WCIRB Ramping Up for New Experience Rating System

California employers could see their experience modification factor change by a few percentage points in 2017 for no reason other than a change in the formula used to rate businesses' loss risks. Since 2010, the Workers’ Compensation Insurance Rating Bureau’s experience rating formula calculated X-mods using a fixed, $7,000 split point to separate primary and excess losses. That is to say, the first $7,000 of any claim – the primary losses – are counted fully in the experience rating formula. Excess losses above $7,000 are used only for medium- and larger-sized emp...