A key to understanding your workers’ compensation premium is the experience modification factor, also known as your mod. Understanding your company’s mod and the data used to obtain it helps you identify ways to minimize your workers’ compensation premium. Who calculates the mod factor? Most states use the National Council on Compensation Insurance (NCCI) to ...
Workers’ compensation insurance is a requirement for most business owners, but it’s something that often brings with it a large amount of stress. Sure, you want to protect your employees in the event of a workplace injury, but you also want to ensure that you’re not overpaying or underpaying for insurance, which could result in ...
