Workers' Comp for Producers Who Hate Workers' Comp
You don't have to love workers' comp. You just have to read it in the right order.
Plays from YouTube (privacy-enhanced mode). Prefer YouTube? Watch it there.
Pull one loss run and mark where the losses sit before you read the total.
In this lesson
The Mod Read: which years count (usually about three, skipping the newest) · open or closed (an open claim counts at paid plus reserve, called incurred) · one big claim or lots of small ones (frequency hurts more) · will it change before renewal?
Mod facts: 1.0 is average for every class. Medical-only claims count at about 30% in many states (NCCI); independent-bureau states like California differ. A bloated reserve inflates the mod now, so a reserve review before the rating date is worth asking for.
Where the price comes from: the mod is published and the same on every quote. The state sets base rates by class (NCCI in most states, WCIRB in California); each carrier adds its own loss cost multiplier (e.g. 1.3 vs 1.6). Carriers also differ in maximum schedule credits (e.g. 40% vs 50%). Lower rate plus more room for credits wins.
Open claims first: a claim from the current term isn't in the mod yet, but it shows on loss runs (usually fresh within 90 days of the effective date). Underwriters price for it through schedule rating.
Want the deeper dive? Development factors on older open claims and how carriers reserve. Tell us in the comments.
Field assignment and Friday review
pull one loss run, run the Mod Read and the class check, then read the total. Open claims first.
Optional: we're putting together one bundle of workbooks and trackers, one low price, no upsell. It's coming to ronnieodell.com. Every lesson and worksheet stays free.
Sources and credits
- The Mod Read and class check: Ronnie's sales manual.
- Lesson 4 callback: the contractor and the 1.35 mod.
- Lesson 6 callback: facts stay facts.
- Ronnie's own experience: thirty years in sales, with insurance part of it the whole way. Stories told as his are confirmed in his interview answers.
Disclosures
- The meeting is a dramatized producer discussion. The producers and their accounts are fictional. Rate and credit numbers are examples. Not insurance advice; details vary by state.
- AI avatars and an AI voice of Ronnie O'Dell. The lessons and opinions are Ronnie's.
- Educational content only. Not legal, tax or insurance advice.