Experience Modification Factor Reviews

We review current and historical experience modification factors to identify incorrect claims information, payroll data, classifications, calculations, and other reporting discrepancies that may have affected your Experience Modification Factors.

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Final Premium Audit Reviews

We review final premium audits for potential errors involving payroll, rates, classifications, debits/credits, and other factors used to calculate your final premiums.

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Depending on the state, circumstances, and applicable filing deadlines, CIV may review policies dating back as far as 15 years. When correctable errors or overpayments are identified, eligible refunds or premium credits may be pursued.

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How the Process Works

1. Our specialists review your experience modification factors, policies, final premium audits, loss runs, and related records for potential errors.

2. When correctable issues are identified, we prepare the supporting documentation and pursue the appropriate corrections.

3. If the corrections are approved, any eligible refunds or premium credits are issued in accordance with applicable rules and procedures.

4. After you confirm receipt of the recovered funds or credits, CIV invoices you for its services in accordance with the terms of your agreement.

5. You receive a final report documenting our findings and the results of the review.

 

Minimal Involvement From Your Team

The process typically requires only a few phone calls and emails. CIV manages the review and correction process and provides updates according to an agreed-upon schedule, keeping you informed throughout the engagement.

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Information We Will Need

• A signed and dated agreement and Letter of Authorization (LOA)

• All available current-year experience modification worksheets; CIV will provide a list of the specific documents needed

• Workers’ compensation policies, final premium audits, and loss runs for each year being reviewed

 

CIV will obtain available historical NCCI experience rating worksheets at its expense.

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If you do not have all the requested records, CIV can assist in obtaining the information needed to complete the review.

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Results vary. The availability of corrections, refunds, or premium credits depends on the circumstances of each case, applicable state regulations, policy terms, filing deadlines, and decisions made by insurance carriers or rating bureaus.