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Your Workers Compensation Ex Mod Rate

Has your workers compensation experience modification rate increased dramatically? Do you know what an ex mod rate is?   Experience modifier (experience modification) is a term used in the American insurance business and more specifically in workers' compensation insurance. It is the adjustment of annual premiums based on previous loss experience. Usually three years of loss experience are used to determine the experience modifier for a workers' compensation policy. This timeframe typically includes the three prior years rather than the immediate past year. ...