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Protect your ex-courage, protect your winnings



We already know that Work Comp Insurance for FXG ISP and CSP companies (codes 7231, 7228 and 7229) can be expensive, but there are ways to reduce the cost of Workers Compensation Insurance. Let's save some money by helping you maintain or acquire a low experience modification rate.

What is an experience modification frequency (ex-mod)?

Your ex-mod is a calculation that compares your workers' historical loss history with the loss history of other similar companies. This number has a lot of power. In short, it tells the insurance company if you have been a good risk or not such a good risk. The lower the number, the more an insurer gets excited. Guarantees tend to fight for your business if you have a low ex-mod. With FXG ISPs and CSPs we have seen mother from 0.59 to 2.0. All numbers below 1

.00 mean a credit (discount) on Work Comp Insurance. All numbers above 1.00 mean a charge (percentage increase). In other words, a 0.90 ex-mod will give you 10% in savings, while a 1.50 ex-mod will add 50% more to your annual premium. With a subject premium of $ 50,000, Work Comp the premium costs for these two ex-mods differ by $ 30,000 in one year.

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