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What is the experience modification?

April 26, 2017experience modification

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What is the experience modification?

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The National Council of Compensation Insurance (NCCI) develops your experience modification. It reflects your claims history compared to other businesses in your classification. Premiums are adversely affected if your claims history is worse than average or positively impacted if better than average.

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The National Council of Compensation Insurance (NCCI) develops your experience modification. It reflects your claims history compared to other businesses in your classification. Premiums are adversely affected if your claims history is worse than average or positively impacted if better than average. The experience period generally consists of three completed policy years.