The Truth About Workers Comp Experience Mods and Premiums

Are you effectively auditing your clients' unit stat cards, or are they overpaying due to reporting errors? In this episode of Falcon Forward, Mike Tanghe and Peter Brecht provide an expert-level breakdown of the Workers' Compensation experience modification factor for insurance producers and HR professionals.We move beyond the basics to discuss the "stories in the numbers," focusing on how to identify missing payroll years, entity reporting errors during M&A, and reserve inaccuracies before they are locked in for a three-year cycle. You will learn the specific levers available to brokers, including how subrogation against at-fault third parties can be used to force a mod recalculation and how to navigate the differing medical-only thresholds in states like California and Minnesota.Topics Discussed:The mechanics of the 1.0 baseline and actuarial experienceStrategic auditing of loss runs before the five-month valuation windowOwnership and entity rules that prevent "gaming" the systemNavigating state-specific indemnity vs. medical-only reportingThe technical process of filing corrected unit stat cards with the BureauDistinguishing between Bureau-set mods and carrier discretionary debitsLinks and Resources:Show website: https://falconwest.com/Falcon West LinkedIn: https://www.linkedin.com/company/falconwestConnect with Mike: https://www.linkedin.com/in/mike-tanghe/Connect with Peter: https://www.linkedin.com/in/peterbrecht/