Pay Attention to Policy Milestones, X-Mod to Reduce Workers’ Comp Costs
| posted in Blog, NewsletterOnce they have paid their annual premium, many employers pay scant attention to their workers’ comp policy until the renewal date starts closing in. Unfortunately, that’s not the best time to attempt to control costs. Because workers’ comp is one of the most loss-sensitive insurance policies, and as claims can sometimes be paid out for decades, it’s important that you proactively manage claims. One way to do that is through a quarterly claims review process, the timing of which is in line with the calculation of your company’s Experience Modification Factor (X-Mod). How Is My X-Mod Calculated? It’s important to…
Read More