Workers compensation pays medical bills and lost wages for employees injured on the job. Required for most businesses with employees in nearly every state. Pricing is driven heavily by your experience modifier (mod), a multiplier comparing your claims history to industry peers. A 1.25 mod means 25 percent above baseline. A clean three-year record can drop the mod to 0.85, cutting premiums by hundreds of thousands of dollars on a large payroll. See our Insurance Terms page at /insurance-terms.

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