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Experience Modification Audits

A major component of the calculation of your workers compensation premium comes from your experience modification rating. This rating is calculated based on three years of your experience and your performance against others in your class. Each year, your workers compensation carrier provides the NCCI with your payroll and loss data. Old National Insurance can provide you with a comprehensive review of the key components of your EMR. This process includes:

  • Review of claims at year end to ensure no claims are over-reserved
  • Review of payrolls by class
  • Review of actual claims on historical EMR’s to verify data was not reported in error. 
  • Provide a prediction of next year’s EMR based on audits and experience
  • Provide various what-if scenarios that can contemplate changes in your operations

Insurance products are offered through Old National Insurance, subsidiary of Old National Bancorp. Products offered are issued and underwritten by various insurance companies not affiliated with Old National Bank and are not insured by the FDIC or any federal government agency, nor are they a product, deposit, or obligation of, or guaranteed by Old National Bank or any of its affiliates.

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