Workers Comp
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Q: Who is eligible for a workers’ compensation experience modification rating?
A: To be eligible for a experience modification rating depends on the state ratings board. For example, in some states, an employer must have an average annual workers’ compensation premium of $5,000 during the three-year rating period that includes the three years prior to, and not including, the current policy year. For example, for a policy expiring on Jan. 1, 2014, the rating period would be Jan. 1, 2010, to Dec. 31, 2012. You may also qualify for an experience modification rating if you had at least $10,000 in premium for either the last year or the last two years of the rating period. To qualify for an experience modification rating from the National Council on Compensation Insurance (NCCI).

Q: What is the NCCI?
A: The National Council on Compensation Insurance (NCCI) is a national ratings bureau. An employer must meet the eligibility requirements established and approved by the state(s) that participate in the NCCI Experience Rating Plan. The NCCI gathers data, analyzes industry trends and prepares objective insurance rate and lost cost recommendations for insurers. NCCI experience modification ratings may either be intrastate (i.e., having exposure in only one state that participates in the Plan). Or they may be interstate (i.e., exposure in multiple states that participate in the Plan).