Workers Compensation Rates: Is The Soft Work Comp Insurance Market An Illusion?
Although bureau loss cost/rate level have been decreasing total workers compensation premium continues to mostly increase.
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Stuart Cytron
- Nov 28, 2023
- 5 min
Inflation And Workers Comp Insurance Fraud? What Workers Compensation Audits Reveal.
In 2023 I've found myself involved in numerous Workers' Comp Insurance audits where I observed behavior I consider unethical or fraudulent.
400
Stuart Cytron
- Sep 21, 2023
- 5 min
Should You Simply Price Shop Your Work Comp Insurance Quotes?
Your Workers Compensation insurance policy is identical to your competitors’ policies. All coverage provisions are regulated by the state.
980
Stuart Cytron
- Aug 18, 2023
- 4 min
Employers Work Comp Insurance Carrier Punishes For A Good Experience Modification Rate
A Client's experience modification rate fell from a .98 to .80 at renewal. That should be great news! I happen to know this decrease...
330
Stuart Cytron
- Feb 24, 2023
- 6 min
The Zero Cost, Easiest Way To Reduce Your Experience Modification Rate & Work Comp Claims
Early reporting is a zero cost, easy way to reduce your experience modification rate
1240
Stuart Cytron
- Aug 12, 2022
- 5 min
What Everyone Ought To Know About NCCI Codes
What Everyone Ought To Know About NCCI Workers Comp Codes...."Experts" can't keep them straight.
1,0720
Stuart Cytron
- Apr 29, 2022
- 9 min
TRIR vs EMR (Total Recordable Injury Rate vs Experience Modification Rate)
The TRIR and the EMR are enshrined safety metrics within the Construction Industry (and others); indicators of an employers safety.
4,8550
Stuart Cytron
- Mar 2, 2022
- 4 min
Work Comp Audit & Tiny Habits Principle To Slash Costs
I'm reading another great book (Tiny Habits by BJ Fogg) that has given me a new mental model to improve both my personal and professional...
680
Stuart Cytron
- Dec 2, 2021
- 6 min
Is Your "Bad" Experience Modification Rate (> 1.00) Really That Bad?
You're Experience Modification Rate is probably not in as bad shape as you think. Improving to a 1.00 is very manageable for everyone!
8660
Stuart Cytron
- Nov 29, 2021
- 3 min
What Is A Good Experience Modification Rate?
The best Experience Modification Rate is your “minimum mod.” Remove all claims from your EMR Worksheet, recalculate, and that is the best.
5330
Stuart Cytron
- Nov 23, 2021
- 4 min
Is Your Business’ Experience Modification Rate Meaningless?
An industry colleague of mine posted this on Linkedin recently: “With very few exceptions, there is no direct relationship between the...
780
Stuart Cytron
- Nov 3, 2021
- 6 min
Work Comp Insurance Quote Information Asymmetry: Close The Information Gap And Save Money
How To Close The Work Comp Information Gap And Save Money
1140
Stuart Cytron
- Jun 3, 2020
- 6 min
Does My Workers Comp Audit Refund Indicate That I Received A Fair Price?
Workers Compensation Audit Refunds. Do they Indicate You Didn't Overpay?
8670
Stuart Cytron
- May 5, 2020
- 5 min
Labor Burden Rate: The 1 Action You Can Take Right Now To Reduce Your Labor Burden
Below: No. 1 Tip to Maximize Profit: Labor Burden Rate The Burden Of Labor Burden Reduce WC Cost/Full Time Employee & Your Labor Burden...
1390
Stuart Cytron
- Apr 8, 2020
- 3 min
NCCI Workers Comp Studies: When Good Is Bad
My wife always warns me that she can see eyes glaze over when I start speaking about insurance. So, when asked what I do for a living, I...
600
Stuart Cytron
- Feb 12, 2020
- 2 min
Reclassification. Right OR Rip-Off? What do you think?
Below is an actual email exchange between a client and his insurance company auditor regarding a reclassification. Who is right?
390
Stuart Cytron
- Feb 4, 2020
- 3 min
NCCI And Artificially Low Experience Modification Rates
"Buying down" experience modification rates is an issue about which NCCI has been trying to educate people.
1270
Stuart Cytron
- Jan 16, 2020
- 3 min
Reduce Your Workers Comp Claims And Next NCCI Experience Modification Rate Through Reserve Auditing
Reserve Audit Your Workers Comp Claims There is a good reason why I send this reminder at the beginning of the year which I'll...
1190
Stuart Cytron
- Sep 11, 2019
- 2 min
Workers Compensation KPI: 3 Suggestions
There are numerous workers compensation KPI we could utilize depending on organizational objectives and goals. But, here are three suggesti
730
Stuart Cytron
- Sep 5, 2019
- 4 min
The Downside Of Declining Work Comp Rates: Experience Modification Rating
The down side of this otherwise positive trend could reside in your Experience Modification Rate.
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Articles By This Author
Author
Stuart Cytron
Stuart Cytron is the founder of Cytron Group LLC, a workers' compensation insurance audit and consulting firm based in St. Louis, MO. He is focused on helping clients save money on their workers' compensation programs and providing much needed pricing transparency.
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