Worker's comp premiums are typically the largest expense for every business and far too often business owners know very little about how to control their work comp.  

Did you know that you can have a perfect score on your worker’s comp mod? 

It’s true!  Your work comp mod is unique to your company and is based on your industry and your payroll.  Your mod will be different than the business next door and your competitor across town.  Attaining a perfect score on your work comp mod will impact your work comp premium costs.  Many people believe that having a mod of 1.0 is a perfect score but it’s not.  A mod of 1.0 is only average.  If you want to beat the average you’ve got to know your minimum mod – your perfect score.

 Two Parts to the Experience Mod

 Every work comp mod can be broken down into two parts; the minimum mod and the controllable mod.  The minimum mod is a perfect score; the lowest possible mod for your company.  The controllable mod is the difference between your actual mod and the minimum mod.  Working with your insurance agent to determine your minimum and controllable mod values is critical to understanding your possible savings.  You can reduce the controllable mod to zero through loss control and loss prevention activities which will directly impact your work comp premium costs.   

 Put your insurance agent to work!

 Knowing your minimum mod is not rocket science but will require the expertise of an insurance agent.  Consider working with an insurance agent who is a Certified Work Comp Advisor.  Regardless of the size of your company knowing your minimum mod is valuable insight and you should strive to attain it.  Your insurance agent can show you the premium dollars you can save by attaining your minimum mod……a perfect score.