The Experience Mod: Many are Wrong, Most are Mismanaged

If your business is experience rated, it is likely that your experience mod COULD be lower. This webinar will discuss how low your experience mod can go and how to get it there. Using real-life examples, Kevin Ring, MWCA, Lead Workers’ Compensation Analyst with the Institute of WorkComp Professionals, will explain the fundamentals of managing your experience mod and how to identify mistakes that can occur on an experience mod.

We will discuss: 

• What experience rating is and why it exists? 
• The critical importance of knowing how low your experience modification can be. 
• Why returning people to work as quickly as possible is critically important to your experience mod and your bank account.
• How workers’ comp deductible can help manage your mod (in states where they are available)
• The most important day of your workers’ comp policy (If you miss this, you may be stuck with incorrect data for a full year)

And how to use this information to make sure your experience mod is exactly what it should be each year (and how to fix it if it’s wrong!)

• How to determine how low your experience mod COULD be
• When the most important day of the year for workers’ compensation is, and what steps you can take before that date to ensure your experience mod is exactly what it should be next year? 
• The impact returning injured employees to work as soon as possible can have on your experience mod. 
• Mistakes that can occur on an experience mod, how to spot them, and get them fixed. 
• Understanding that sending your workers’ comp out for bids is not the most effective way to control your insurance costs. 

Very few workers’ comp decision makers understand their experience mod beyond the fact that it impacts what they pay for workers’ compensation. Your experience mod is a report card of your business workers’ comp performance and can be controlled!
 
In this webinar, Kevin will discuss how a business can effectively manage its experience mod, even if they suffer employee injuries.

Anyone who handles workers’ comp for a business with an experience mod. CFO and HR professionals are most likely, but other C-level staff are in the audience.

Kevin joined the Institute of WorkComp Professionals in 2003 after a stint managing systems for a mid-sized manufacturing company. A licensed P&C agent, Kevin has an affinity for making the technical simple. He is especially adept at unraveling experience mods, premium audits, and classifications.

His technical workers’ comp skills have helped Certified WorkComp Advisors through sticky situations (including analyzing an 84-page mod sheet), and he’s constantly working with Advisors to deepen their knowledge of Workers' & Comp.

Kevin has analyzed more than 1200 experience mod worksheets, finding and fixing errors for Certified Advisors and their clients. Because of his experience working with Advisors and analyzing mods, he has been involved in designing multiple pieces of experience mod analysis software. He also directed the development and production of the Locked and Loaded workers’ comp course, the Institute’s first program designed for employers.

Kevin has had articles featured and been quoted in insurance trade magazines such as Rough Notes and Insurance Journal, as well as numerous general industry trades.