Skip to main content
On Demand

Understanding the Experience Mod Calculation


Total Credits: 2 including 2 General

Average Rating:
Not yet rated
Faculty:
Chris Boggs
Course Level:
Intermediate
License:
Access for 1 year(s) after purchase.


Description

A factor in the workers' compensation premium development is the experience modification factor - or the "Experience Mod," & "X-Mod" or just plain "Mod."

In general terms, the insured's individually developed Experience Mod can have no effect, a positive effect or a negative effect on the insured's workers' compensation premium. From a broad perspective, the experience mod in some ways "customize" the premium for that insured. (Of course, underwriters can negate the effects of the experience mod with debits or credits, but this is a wholly different conversation.)

Basic Course Information

Learning Objectives
  • Better understanding of the "why" of experience mods
  • Learn the basic experience mod concepts
  • Learn how to calculate the experience mod
  • Gain a better understanding of the combinability rules and process

Major Subjects
  • The "why" of experience mods
  •  Basic experience mod concepts
  •  Calculating the experience mod
  •  Combinability of entities for Experience Mod calculation 

Course Materials

Faculty

Chris Boggs's Profile

Chris Boggs Related Seminars and Products


Christopher J. Boggs, CPCU, ARM, ALCM, LPCS, AAI, APA, CWCA, CRIS, AINS, president of Boggs Risk & Insurance Consulting (BRIC) with a focus on education, training, risk and claims consulting with insurance agents and insurance carriers, began the practice of insurance in 1990. 

During his nearly three-and-a-half-decade insurance career, Boggs has authored over 2,000 insurance and risk management-related articles on a wide range of topics. Additionally, Boggs has written 15 insurance and risk management books including:

  • "The Insurance Professional's Practical Guide to Workers' Compensation: From History through Audit," (now in its second edition);

  • "Business Income Insurance Demystified: The Simplified Guide to Time Element Coverages," (now in its third edition);

  • "Property and Casualty Insurance Concepts Simplified: The Ultimate 'How to' Insurance Guide for Agents, Brokers, Underwriters and Adjusters;"

  • "Wow! I Never Knew That! 12 of the Most Misunderstood and Misused P&C Coverages, Concepts and Exclusions;"

  • "Insurance, Risk & Risk Management! The Insurance Professional's Guide to Risk Management and Insurance;"

Boggs is a regular speaker at industry events, having taught or spoken nearly 1,000 times. This includes sessions for the National Association of Mutual Insurance Companies (NAMIC), the National Society of Insurance Premium Auditors (NSIPA), the American Association of Managing General Agents (AAMGA), the Institute of Work Comp Professionals (IWCP), the Chartered Property Casualty Underwriter (CPCU) Society and numerous independent insurance agent state association meetings. He has also earned numerous professional accolades including the 2017 Institute and Faculty of Actuaries (IFoA) Brian Hey Prize and the 2019 Casualty Actuarial Society (CAS) Charles A. Hachemeister Prize as part of a of professional collaboration with a diverse group of professionals.

His professional background includes work as a risk management consultant, loss control representative, insurance producer, claims manager, journalist and columnist, quality assurance specialist, and insurance coverage product manager. 


Boggs earned a Bachelor of Science degree in journalism at Liberty University in Lynchburg, Virginia, and holds nine professional designations.


Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Any professional involved in workers' compensation from the agent/broker to the underwriter to the HR professional responsible for managing the employers' workers' compensation program.
Course Developer Boggs Risk & Insurance Consulting, LLC

Additional Information

Complaint Resolution Policy Please contact Jessica Vieira with any complaints at jessica.vieira@acpen.com, (617-519-6790).
Course Registration Requirements Online Registration
Instructional Delivery Method

Group Internet Based 


Refund/Cancellation Policy

Please contact the HREN help desk 1-877-602-9877 or help@HREducationNetwork.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


SHRM Accreditation Information HR Education Network is recognized by SHRM to offer SHRM-CP or SHRM-SCP professional development credits (PDCs). This program is valid for PDCs. See the course registration page for more information on number of credits and credit types.  For more information about certification or recertification, please visit shrmcertification.org
HRCI Accreditation Information HR Education Network is a recognized provider of recertification credits. HR Certification Institute® pre-approved this program for credits towards aPHRTM, PHR®, PHRca®, SPHR®, GPHR®, PHRiTM and SPHRiTM recertification.  See the course registration page for more information on number of credits and credit types.  

Promo Video

Reviews