You are losing money.
Your experience mod is a number most business owners have never looked at and it is quietly deciding what you pay for workers’ comp every single year.
The rating bureau builds it from payroll and claims data your carrier reports, and that data is wrong more often than anyone will tell you. A claim that closed for $4,000 still sitting on your worksheet at a $40,000 reserve. Payroll coded to the wrong class. A policy year that should have dropped off and didn’t.
Each of those errors pushes your mod up, and a higher mod surcharges every dollar of premium you pay.
It follows you if you change carriers. It follows you if you shop your renewal. It can cost you bids because general contractors and large customers look at that number before your premium.
And nobody is checking it for you. Your carrier has no reason to lower what you owe them, and most agents have never read a worksheet line by line.
We do.
We pull the worksheet, match every claim against your loss runs, check the payroll and the class codes, and show you in plain dollars what each point on your mod is costing you. If we find errors, we show you how to get them corrected, and that correction lowers your premium whether you stay with your current carrier or not.
It costs you nothing but a signature and five minutes.
The only thing you risk by skipping it is paying for someone else’s mistakes for another year. All it takes is 5 minutes.