Workers Comp Claim Development - Why The Six Month Delay?
How Workers Comp Claim Development Works There are two steadfast rules in Workers Comp ratings. They are: Your policy does not show up in your Experience Mod until the following year. Yes, the claim totals are delayed for one year. For example – your 01/01/2019 – 01/01/2020 policy will not affect your company's Mod until 1/1/2021 – 1/1/2022. The very important UNIT STAT Date is 07/01/2020 – when the claim values peg to the NEXT year's Mod. The reason for the six-month delay is called Workers Comp claim development. NCCI and Other Rating Bureaus Faster Now On Mod Publishing I...
Source: workerscompensation.com