What's My EM? Are My Premium Rates Irrational? [656]
Date: Thursday, March 10, 2016
Time: 3:45 PM - 4:45 PM

Speakers:
   Todd Spence, Regional Business Consultant, Ohio Bureau of Workers' Compensation
   Scott St. Clair, Regional Business Consultant, Ohio Bureau of Workers' Compensation

Track: Workers' Compensation
Session Type: Educational Session
Skill Level: Basic

Description:

This session covers the elements and calculation of your BWC premium rates and how a claim impacts them. By understanding how BWC determines rates and what you can control, employers are informed of risk-management strategies and cost control practices to minimize the financial impact claims may have on their rates while ensuring injured workers receive appropriate care with the goal of returning to work.



Learning Objectives:
1. Explain how BWC calculates your annual premium rate; 2. Summarize what an experience modifier (EM) is and the financial impact it has on premium rates; 3. Identify how employer actions can positively impact the premium rate; and 4. Describe what cost control strategies such as settlements and handicap reimbursements may be used and what impact they can have on your rates.

CEU Hours:  
  IACET: 0.1
  HRCI: 1
  BWC Discount Programs: 1

File & Handouts:
BWC Ratemaking Session Example Handout
656 Handout







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