How the Experience Modification Factor Affects Workers’ Comp Costs


In this training you will learn...

  • How to speak in simple language about the complex mod formula with clients or senior management
  • What elements of workers' comp claim costs actuaries view as most important
  • How changes in claim outcomes affect premium pricing
  • The simple formula to calculate your minimum experience mod
  • The impact of one claim on your experience rating 


The experience modification factor is a snapshot assessment of risk for an insurance carrier. In guaranteed cost programs it is a primary factor in the pricing of workers' comp premiums, and this formula is key to understanding how injury management best practices result in lower costs. For high deductible and self-insured employers, the experience mod offers a simple benchmark which can be leveraged for greater program insight.


July 2021

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