Insurance Coverage

EMR Is Important to Your Business

An Experience Modification Rate has a significant impact on the worker’s compensation insurance premium of a business. The EMR is a metric that insurers use to calculate worker’s compensation premiums; it takes into account the number of claims/injuries a company has had in the past and their corresponding costs. Using an EMR calculator by can help identify where your business is at.

How EMR Impacts Your Business

Because your EMR determines your worker’s compensation liability premium, it has a direct impact on your bottom line: the higher your risk rate, the more you pay for worker’s compensation insurance. The higher the EMR number, the more you will pay in premiums. The lower the number, the lower your premiums. With all other factors being equal, a high number can place your company at a severe disadvantage compared to competitors.

How To Help Improve Your Score

As with any type of insurance, the more you use it, the higher your premium. As a result, the simple solution is to limit the number of incidents that result in claims and losses. Of course, saying it is considerably easier than doing it. To help lower your EMR number, ensure that your business is training its employees on safe practices and strictly adhering to workplace safety policies.

It’s important to stay on top of your score by using an EMR calculator by Keeping that score low will improve your work environment and help control expenses.