Workers’ compensation insurance covers employers in the event of employee on-the-job injury. Businesses with employees are required by various state laws to carry some type of workers’ compensation insurance. In most cases, workers’ compensation laws prohibit the employee from bringing a negligence lawsuit against an employer for work-related injuries. According to the “Institute of WorkComp Professional,” 50 percent of experience modification ratings are wrong.

DIB provides the following workers’ comp expertise:

• Accurately project the experience rating factor before it is promulgated by the National Council on Compensation Insurance (NCCI)
• Identify the loss free mod and calculate the controllable mod, thus showing how much money could be saved in premiums 
• Analyze losses to show what specific losses increase the mod Better communicate the factors affecting the mod and illustrate the value of loss control and loss-prevention services
• Anticipate client concerns, such as a significant change in payroll or loss trends that may impact the mod for several years 
• Increase accuracy of cost-allocation and risk-management decisions
• Forecast the mod for the next policy period
• Compute and verify the accuracy of mods