Documents You Need for a Quote
Current Workers’ Compensation Policy
Where employees are classified and their payroll into their appropriate job classification codes that determine the base rate.
Experience Modification (Ex Mod) Report
Because rates are based on a comparison of past losses against “average” losses of other employers in that state in the same business, but adjusted for size.
3-year Loss Runs Report
Because rates are based on the claim activity where the named insured, policy number, date of each claim, and the amount paid or on reserve is listed in detail.
One simple call to your current Workers’ Comp carrier or agent will suffice to obtain the documents listed above. You may also request the Ex Mod worksheet at the WCIRB (Workers’ Compensation Insurance Rating Bureau). By law in most states, the current issuer must provide you with that information in writing via mail, email or fax promptly.