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Commissioners approve State Fund workers' compensation renewal after hearing on claims and rising mod factor
Summary
Ravalli County approved a renewal offer from State Fund for workers' compensation insurance after a detailed presentation on the county's experience modification factor, recent claims, and how payroll reporting and dividends affect premiums.
The Ravalli County Board of County Commissioners voted Tuesday to accept a State Fund workers' compensation renewal offer after hearing a presentation on the county’s rising experience modification factor and recent claims.
The discussion focused on the county’s experience modification (mod), which county presenters said is 1.71 (171%), and on claim years that drove that increase. The presenters reviewed estimated payrolls, an employer’s liability limit shown at $1,000,000 in the packet, and recent claim costs that staff said are increasing the county’s premium estimate.
Fred Thomas, who presented the renewal proposal and…
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