Why EMR Matters to Construction Companies

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For construction companies, an Experience Modification Rate (EMR) is the number that insurance companies use to measure past claims. What does this mean for you?

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Topics: EMR

What Insurance Factors Are Costing Your Company Jobs?

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An experience modification rating (EMR or Mod Rate) is a strong influencer when determining a construction company’s risk. It uses information from past workers’ compensation claims to determine a company’s chance for future risk. Many construction projects will require companies to have a 1.0 average EMR or lower. 

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Topics: EMR

Recognizing Workers’ Compensation Fraud Before It’s Too Late

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Workers’ compensation insurance is valuable for any construction company as it helps cover expensive medical costs and other expenses. However, workers’ comp fraud can occur when a false statement is made or key information is withheld in a claim. Such actions can result in the denial of certain benefits from your workers’ compensation policy, which could leave your company at risk to pay costly claims directly. 

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Topics: EMR

12 Claims Best Practices Every Construction Company Should Follow (Part 1)

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One of the biggest problems with the current state of property and casualty claims management is that poor performance is the “new normal,” rather than the exception. When failing to follow claims best practices, there can be negative consequences, such as higher loss rates, higher premiums and, ultimately, loss profitability.

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Topics: EMR

Lower Workers' Compensation Rates Expected in 2018

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Workers' Compensation insurance rates are expected to go down in several states this year. Improvements in workplace safety are a major contributing factor for the lower rates, with around 36 states seeing a decrease in rates last year. 

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Topics: EMR, Workers' compensation

How to Lower Your Workers' Comp Premium

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All businesses with employees are required to provide Workers Compensation insurance. This requires your company, if it’s not self-insured, to own a workers compensation policy. Despite its necessity, premium coverage costs don’t have to be too costly. If you're not following claims best practices you could end up costing your organization. 

Here are some steps you can take to lower your workers compensation premium. 

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Topics: EMR

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