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Changes in Ex Mod & Work Comp2013 marks the first changes in ex-mod calculations in over two decades. Employers with poor loss histories will probably be seeing their rates go up, while employers with good histories, solid management practices, and good safety programs will probably realize some financial benefits.
The effective implementation timing is predicated on a state-by-state basis, depending on their adjustment periods. Additionally, under the new guidelines, the rate calculations will continue changing on an annual basis.
To help agencies and their staffs better understand the changes and the impact on their clients, ReSource Pro consultant Jack Burke recently interviewed Kevin Ring, the Lead Workers Comp Analyst at the Institute of Work Comp Professionals for the monthly publication Audio Insurance Outlook and has allowed ReSource Pro to share it with their clients.