Your X-Mod & You: Rein in Workers’ Compensation Premium and Keep Employees Safe

Your workers’ compensation experience rating factor, or “X-Mod”, is a rating developed by NCCI (National Council on Compensation Insurance) to calculate the effect of your company’s losses on the amount of premium you pay for workers’ compensation insurance. NCCI does this by comparing your loss and payroll history against that of peer companies in your industry. Additionally, your potential customers evaluate how safely your business operates by examining your X-Mod rating. An efficient way of saving premium dollars over the long run and procuring lucrative contracts is by staying in control of your experience rating.

At TFG Insurance Specialties, we promulgate your experience rating each year before NCCI does. This allows us time to dispute potential discrepancies with them. We have found in the past that claims that adversely affect experience ratings have been misreported to NCCI. In this instance, we are able to dispute NCCI findings once they are published. This in turn saves our client premium dollars and enables them to be competitive when responding to RFP’s.

TFG Insurance Specialties can evaluate the accuracy of your previous experience modification ratings at no cost to you. In addition, we can analyze your loss history for trends in worker’s compensation cost drivers and suggest remedies for these. Please contact us for a quick analysis and please check back for additional posts about how to minimize your experience mod.