MOD rate stands for Experience Modification Rate. Your MOD rate directly affects your premium—it’s essentially your safety scorecard. A high MOD means your business is viewed as riskier, resulting in higher insurance costs. Understand what impacts your MOD, including claim frequency, severity, and your company’s payroll. Ask your broker to walk you through your MOD worksheet and develop a plan to improve it with better safety practices, return-to-work programs, and prompt claims handling.
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