If your business is experience rated, it is likely that your experience mod COULD be lower. In this webinar we 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 as well as how to identify mistakes that can occur on an experience mod.
Why you should Attend
Very few workers’ comp decision makers understand their experience mod beyond the fact that it impacts what they pay for workers’ compensation.
In this webinar, Kevin will discuss how a business can effectively manage their experience mod, even if they suffer employee injuries.
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!)
Areas Covered in the Session
- The purpose of experience rating
- Your lowest possible mod
- The importance of Recovery-at-Work on your checkbook
- How workers' comp deductibles MAY help you manage your experience mod
- Errors that can occur on your mod and result in you paying more than you should
Who Will Benefit
- Anyone that is involved in managing your workers' comp program
Kevin Ring, MWCA, CBWA joined the Institute 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, whether insurance or computers. He is especially adept at unraveling ex-mods, audits, and classification clarifications.
His technical workers’ comp skills have helped Advisors through sticky situations (including analyzing a 76-page mod sheet), and he’s constantly working with Advisors to deepen their knowledge of the Institute process.
Kevin has analyzed more than 1050 experience mod worksheets, finding and fixing errors for CWCA’s and their clients. Because of his experience working with Advisors and analyzing mods, he designed and directed the development of ModIMPACT, IWCP’s mod analysis tool.
Kevin has been quoted and had articles featured in insurance trade magazines such as Rough Notes and Insurance Journal as well as numerous general industry trades.