Our Work Comp Alternative Approach Saves You $$

Here’s a story of how my discovery of a simple calculation error led to a substantial savings in Work Comp costs for a longtime business client.

It is incredible how many California Work Comp premiums can be reduced through Van Beurden’s Alternative Approach that includes a detailed experience modification (Ex-Mod) audit.

In the insurance industry in the United States, an experience modifier or experience modification is an adjustment of an employer’s premium for Worker’s Compensation coverage based on the losses the insurer has experienced from that employer.

Workers’ Compensation is a challenge for nearly every California employer – a challenge met for decades by Van Beurden Insurance. We have the real-life business experience that proves we help business owners navigate the ever-changing Work Comp rules and reduce overall Work Comp costs.

It all started at renewal time for a current client, and I recommended a no-cost Ex-Mod audit of the company’s Work Comp history. Thanks to that audit, I found an error in the company’s Ex-Mod calculation – an error in the calculation used by the Workers’ Compensation Insurance Rating Bureau (WCIRB).

Upon discovery of the Ex-Mod calculation error – which had led to an undesirable higher premium – I petitioned WCIRB, requesting they re-calculate my client’s Ex-Mod. Had my client not been a part of Van Beurden’s Alternative Approach, the ex-mod error would have never been discovered.

Uncovering the risk, threats and errors in the policy decreased my client’s renewal premium by nearly $8,000.

Imagine what will happen when your Work Comp policy goes through the Alternative Approach. It’s not just competitive quotes you should be looking for. You need an insurance agency that will maximize carrier credits, ensuring your quote is accurate and free from errors.

I look forward to starting a conversation to see if Van Beurden’s Alternative Approach is the right fit for you! Call our office today!