The WCIRB’s Proposed Experience Rating Formula, Effective January 1, 2017, Diminishes Employers’ Incentive
An integral part of the cost of workers’ compensation is the experience modification. It gives the employer the incentive to manage its cost through measurable loss control and claims management practices. The proposed experience rating formula developed by the Workers Compensation Insurance Rating Bureau (WCIRB), effective 1/1/2017, will diminish the measurability of cost savings. In […]