Definitions, Calculations, and Effective Guidelines for Lowering Your Rates
Your EMR – or Experience Modification Rate – is a rate used by insurance providers to forecast the expected level of risk your business may be liable for. The higher your EMR, the higher your premiums – and vice versa. This rate is incredibly valuable in creating safety forecasts, industry comparison,s and -of course – affecting the dollar amount you spend on workers compensation premiums.
Understanding your EMR can be a difficult process. Inside this whitepaper, you’ll find a simple explanation of the 2 primary factors affecting your EMR, an explanation on the effects of your EMR and an in-depth guide to calculating EMR.