Your experience modification rate (EMR) is what insurance companies use to measure the risk of taking on your organization as a client. It compares your losses to what is expected in your industry: Injuries happen in construction — but companies that have more frequent or more serious injuries as other, similar companies in their state have higher EMRs. And the higher your EMR, the higher your workers’ comp premiums.
But the effects of a high ex-mod rating go well beyond your out-of-pocket insurance costs; an EMR higher than the 1.0 average also limits your ability to win contracts and secure financing. In short, it affects your ability to do business.
Download the guide, 6 Ways to Lower Your EMR Rating, to discover steps you can take today to create a culture of safety within your organization, streamline your compliance efforts, and make continual improvements in your safety record.