YOUR EXMOD AND YOUR WORKERS COMPENSATION COSTS.
Your Experience Modification Rate (more commonly known as an“X-Mod” rate or EMR) is a number assigned by the Workers Compensation Insurance Rating Bureau (WCIRB) and used for your worker’s compensation insurance provider to determine the cost of past injuries against future risk. Every insurance company writing Workers Compensation coverage is required by law to use this ExMod rating. It is typically calculated using the cost of claims by your company compared to the average cost of claims in your particular industry, which is then compared to the average X-Mod Rate of 1.0. If you stay below 1.0, your Workers Compensation rate will be lower than other businesses in your like market. If you go above 1.0, your costs will increase in that same %. Your X-Mod rate is re-assessed annually with your work comp renewal.
X-MOD RATES AND OSHA. The Cal-OSHA Targeted Employers Programmed Inspection List states a business with an X-Mod rate of 1.25% or higher will prompt an OSHA fine, which may be followed by an inspection. The fine is based on your worker’s compensation payroll amount and ranges from $100 to $10,000.
HOW COMPLIANCE AND SAFETY FIRST CAN HELP?
If your X-Mod is above 125%, it’s a matter of time before OSHA arrives. Compliance and Safety First can provide you with a FREE Pre -OSHA Inspection ahead of theirs, so that you can know what to fix and correct before they discover the issues. We provide an "In House" OSHA Certified Trainer who can meet with you, walk around your facility or jobsite with you and point out safety hazards and potential fines. Upon completion of the pre-inspection, Compliance and Safety First will be able to sit down with your business and address all of your safety issues and provide the ability for your business to become compliant in all areas.
Compliance and Safety First has a proven record of lowering insurance costs through providing ongoing OSHA compliance support. Our goal, as well as yours and OSHA's, is specifically designed to reduce injuries and to '"make sure every employee goes home safe every night."
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