Rhode Island and Massachusetts Workers Compensation Insurance

Lapointe provides Massachusetts Workers Compensation Insurance and Rhode Island Workers Compensation Insurance plans and services to meet the needs of any business:

• Retrospective Rating and Participating (dividend) Plans
• Payroll Classification Review
• Unit Statistical Card monitoring
• Assistance with Owner Controlled Insurance Plan documentation

Worker's comp insurance experience modification is complicated. We can help.

Understanding "Experience Modification"

The premiums that a business pays for worker's comp insurance are impacted by its experience modifier. Developed by the National Council on Compensation Insurance (NCCI), or state workers compensation authorities, this modifier is based on the individual loss experience for a business and accounts for the number o f employee claims over the past three years (excluding the current period).Companies that do a better job of controlling their losses than other similar businesses in their classification will have experience modifiers lower than 1.0. In developing an experience modification factor for a specific company, NCCI places greater emphasis on the frequency of accidents rather than on the cost of these accidents. This approach is based on the premise that accident frequency breeds severity, and that chance alone often determines how costly an accident will be.

The staff at Lapointe Insurance has a strong working-knowledge of Massachusetts and Rhode Island workers compensation insurance and experience modification. By auditing your loss history and the calculation of your experience modification value, we can implement a workers compensation program for your firm that responds appropriately to your historical loss trends.