The WorkCompEdge workers compensation blog is a resource from Zywave, Inc., a leading provider of software-as-a-service enterprise solutions for insurance brokerages.
In 2010, Zywave acquired Specific Software Solutions, a market leader in workers compenation software best known for its flagship product, ModMaster.
I have an affinity for detective and crime shows, and this year I’ve added The Mentalist to my list of favorites. The show features character Patrick Jane, who formerly posed as a psychic and now consults with the California Bureau of Investigation. In each episode, Jane reliably uses his superior powers of observation to have [...]
Filed under: Experience Rating (the Mod) | Tagged: experience rating modification factor, premium, workers compensation | 2 Comments »
In addition to recent formula changes for 2012 in the California experience rating plan, the WCIRB has also adopted a significantly new format for its experience rating worksheet. You’ll think I’m a geek (if you didn’t already) for admitting this, but I’m loving the new format. While of course I’m partial to the myriad ways [...]
Filed under: Experience Rating (the Mod) | Tagged: california experience rating form, california experience rating worksheet, California rating formula change 2012, California workers compensation | Leave a Comment »
As you’ve probably heard by now, NCCI is changing the primary-excess split point value in the experience rating formula beginning in 2013. I’ve been hearing from many agents and brokers who are wisely eager to understand this change and discuss it with their clients. We’ve already published several resources on this topic, and now we’re [...]
Filed under: Experience Rating (the Mod) | Tagged: 2013 rule change, ex-mod formula, experience rating formula, mod formula, NCCI, primary split point | 2 Comments »
In conjunction with the January 1, 2012, pure premium rate filing, the California Insurance Commissioner has approved changes to the experience rating method as mentioned in this previous article on the WorkCompEdge blog. The November 4th announcement, Bulletin 2011-09, says in part: Beginning January 1, 2012, “Primary Credibility” and “Excess Credibility” factors will be substituted for [...]
Filed under: Experience Rating (the Mod) | Leave a Comment »
If I didn’t know better, I’d say that the workers compensation bureaus are conspiring to keep those of us analyzing and communicating about mods very busy in 2012. In addition to the coming change in the NCCI split point, it seems likely that California’s bureau, the WCIRB, will be changing its experience rating calculation in [...]
Filed under: Experience Rating (the Mod) | Tagged: California experience rating, California rating formula change 2012, Calirfornia workers compensation, credibility factor | Leave a Comment »
The official word we’ve been waiting for is here: NCCI has published one of its “FYI Plus” memos on proposed revisions to the experience rating plan primary/excess split point value and to the maximum debit modification formula. The FAQ document, FYI-CW-2011-05, is publicly available here in the Industry Information /Regulatory Activities section of the NCCI site. The FAQ [...]
Filed under: Experience Rating (the Mod) | Tagged: NCCI, regulatory activities, split point, workers compensation | 3 Comments »
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