Premium
Give me the current and prior annual workers' comp premium.
Workers' Comp Cost Review
Your workers' comp cost went up. Start with what changed.
Give me this year's premium and payroll, last year's figures, and your X-Mod. I will compare them so you can see what the increase does and does not explain.
I will work through the numbers first, then show you where I would look next.
A higher premium does not tell you why it moved.
Payroll growth, X-Mod movement and other account factors can all move the number. I start by separating the change that follows payroll from the part that still needs an explanation.
- Premium increased faster than payroll.
- Your X-Mod changed between policy periods.
- The figures still leave part of the movement unexplained.
What I will compare
You only need the figures already on your policy or renewal.
Payroll
Give me the payroll tied to each policy period.
X-Mod
Give me the current and prior X-Mod if you have them.
You will see what the numbers actually support
I will show you the relationship between premium, payroll and X-Mod, then lay out the records I would review before making a recommendation.