Workers' Comp
Reading your experience modification factor before renewal
· 6 min read
The experience modification factor multiplies your manual workers' compensation premium. A 1.15 mod means you pay 15% more than an average employer in the same class codes; a 0.85 mod means you pay 15% less.
The rating window is three policy years, excluding the most recent one. That lag is useful: claims closed today affect the mod calculated a year from now, so reserve reviews and return-to-work programs pay off with a delay.
Class code accuracy matters just as much. Misclassified payroll can inflate premium significantly for contractors with mixed field and office staff.
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