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 often receive this question.
Why do we have to wait four more months after the UNIT STAT date to receive our Mod? We would like to have it as soon as possible.