Are you ready for Split Rating as an Oregon Employer?

Written: April 10, 2013

CalculatorBy: Ryan T. Miller, CIC

Oregon has been a role model for well managed workers compensation. Oregon employers enjoy some of the most stable work comp costs in the country and that gives Oregon a unique advantage. However, there is a national change coming that will affect every employer. To what degree depends on how well you manage your employee injuries.

Most employers have seen their Experience Modification Factor, at one time or another and understand that it can positively or negatively impact the cost of your workers compensation insurance. Companies that have more than a 1.0 Experience Mod pay more than average, while those who have less than 1.0 pay less than the average. If your company pays $100,000 per year for workers compensation, the experience mod can impact your costs plus or minus $25,000 to $50,000 each year.  Over a three year average this becomes big money.

As of January 1, 2013 Oregon, and several other States, are updating the formulas which create your Experience Modification Factor. If you are above 1.0 your overall cost will be rising, if it is under 1.0 you will most likely see a decrease.

Are you prepared for this change and ready to capitalize on it?

Do you know what your lowest possible Experience Mod Factor is, and do you have a plan to get there?

If you want to know more about why the Experience Mod is important or how to effectively manage it give us a call.

For a deep look into theses changes Read More .


Leave a Reply

Your email address will not be published. Required fields are marked *

About the Blog

TRIO - "Turning Risk Into Opportunity" We are all surrounded by risk. It's no wonder we can easily find ourselves consumed by our efforts to control risk and we can't see how the risks that surround us can be turned into opportunities. Here we will share what we have learned to help your organization look beyond the transaction of insurance and find the hidden costs within organization.

Recent Posts