What Does Experience Modification Mean?

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What does Experience Modification mean? Read on to discover the definition & meaning of the term Experience Modification - to help you better understand the language used in insurance policies.

Experience Modification

Experience Modification

Experience modification is a rating insurance companies give to employers based on past losses and projected future losses. This rating determines the worker's compensation premium they offer.

We hope the you have a better understanding of the meaning of Experience Modification.

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