The National Council on Compensation Insurance (NCCI) controls the experience mod for 36t states around the country. Several other states with independent rating bureaus follow the NCCI experience rating method.
NCCI has proposed substantial changes to their experience rating calculation beginning in 2024 that will impact all experience-rated businesses in these states.
This webinar will dig into the calculation of the experience mod, what is changing, and how it may impact your business.
We will look at the specific elements of the experience rating calculation that are changing to build an understanding of how these elements impact your company’s experience mod and how you can work to improve it.
While these changes will have a modest impact on most businesses, understanding these changes will help you prepare for that impact in 2024 and beyond.
Attendees of this webinar will walk away with a better understanding of the fundamentals of the NCCI experience rating process and the changes coming in 2024. You’ll understand how these changes could impact your business and avoid a negative surprise.
NCCI has proposed substantial changes to their experience rating calculation beginning in 2024 that will impact all experience-rated businesses in these states.
This webinar will dig into the calculation of the experience mod, what is changing, and how it may impact your business.
We will look at the specific elements of the experience rating calculation that are changing to build an understanding of how these elements impact your company’s experience mod and how you can work to improve it.
Why you should Attend
The changes that will go into effect in the states where the workers’ comp system is governed by NCCI in 2024 will impact every experience-rated business.While these changes will have a modest impact on most businesses, understanding these changes will help you prepare for that impact in 2024 and beyond.
Attendees of this webinar will walk away with a better understanding of the fundamentals of the NCCI experience rating process and the changes coming in 2024. You’ll understand how these changes could impact your business and avoid a negative surprise.
Areas Covered in the Session
- The basics of the NCCI Experience Mod Calculation
- The elements of the mod that are changing
- The impact of these changes
- Walking through hypothetical examples of how different mods may change as a result of these modifications to the calculation
Speaker
Kevin Ring, MWCA, CBWA joined the Institute in 2003 after a stint managing systems for a mid-sized manufacturing company. A licensed P&C agent, Kevin has an affinity for making the technical simple, whether insurance or computers. He is especially adept at unraveling ex-mods, audits, and classification clarifications.
Who Should Attend
- Anyone in a position to be responsible for workers' compensation in their business
- CEO, CFO, HR
