Las Cruces Agency Asks Employers: What's Your Mod Costing You?

LAS CRUCES, N.M. and BRENTWOOD, Tenn., May 4 /PRNewswire/ -- Employers may have heard the term "workers compensation mod factor," but are clueless when it comes to understanding how that factor impacts their premium costs. In today's tough economic conditions, Las Cruces insurance agent and company founder Will Burke of Burke Insurance Group says, too few employers understand that their workers compensation modification factor has a "perfect score" they should work to reach in order to minimize their premiums.

The mod factor, also known as the ex-mod, is calculated using a company's payroll and loss experience. The mod is then used to weight the premiums a company pays for workers comp insurance. An average mod is 1.0, and some employers, like contractors, are satisfied with a 1.0 because it's required in order to bid on jobs. But, says Burke, "a company interested in cutting costs must also know its minimum mod." The minimum mod varies based on a company's industry and payroll, but any company can eventually reach its minimum mod through excellent practices in loss control and prevention.

Philosophically committed to client education as well as service, Burke Insurance Group helps companies identify their minimum mod and analyze their mod to gain insight into loss trends. The agency helps clients understand how issues such as diligent hiring practices will decrease claim frequency, how an injury management coordinator will improve outcomes of injuries that occur, how to prepare for a premium audit, and more. Clients receive a custom plan that incorporates these elements and enables them to gain control over their experience modification.

The agency provides these services through WorkCompEdge, a web-based service dedicated to helping employers reduce workers comp costs and improve productivity. As a Member Agency of WorkCompEdge, Burke "goes the extra mile to provide clients with resources and value beyond standard workers compensation insurance policies," said WorkCompEdge CEO Tim Coomer.

Will Burke invites interested companies to contact him for a complimentary mod analysis at 575-524-2222 or Employers are also encouraged to read the award-winning blog at

About the Companies

Founded in 1980, Burke Insurance Group serves clients throughout New Mexico and West Texas. In addition to commercial insurance, the agency offers personal lines insurance and bonding. Burke Insurance is the only insurance agency in New Mexico to have received the Best Practices Award from the Independent Insurance Agents & Brokers of America (IIABA) for six consecutive years.

Tennessee-based Specific Software Solutions ( and its affiliate, SIGMA Actuarial Consulting Group, serve risk management and insurance professionals in companies of all sizes across the nation with software products and casualty actuarial consulting. Founded in 1990, the company is best known for its flagship product ModMaster, which computes and analyzes the workers compensation experience rating modification factor.

SOURCE Specific Software Solutions

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