Workers comp rates are based on each businesses individual experience mod. An experience mod is a calculation of multiple factors including payroll, amount of employees, and previous number of claims. This gives a number that carriers see about where a business currently stands with containing claims.

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Workers Compensation Rates Heading Higher; AGAIN!!

Standard & Poor's the rating Agency that got so much so wrong during the financial meltdown may have gotten this one right, unfortunately. In their report just issued entitled "For The US Prop/Casualty Industry, Making Workers Compensation…