Mid term work comp change needed
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Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Tip: If you are posting a market request, include the state abbreviation in your post title to get better responses.
Re: Mid term work comp change needed
What State are you in?
Re: Mid term work comp change needed
This usually results in a shot in the foot.
The ex mod formula is geared to continous annual policy periods.
You have to weigh the impact of a mid term change before you market elsewhere.
Insured may penalize their own future ex mods and getting out of Applied midterm is not cheap.
Whatever problems insured has with Applied can likley be resolved.
Insured can move 11/14 without penalty
The ex mod formula is geared to continous annual policy periods.
You have to weigh the impact of a mid term change before you market elsewhere.
Insured may penalize their own future ex mods and getting out of Applied midterm is not cheap.
Whatever problems insured has with Applied can likley be resolved.
Insured can move 11/14 without penalty
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yoyowordup
- Insurance Journal Addict
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- Location: The Valley of the Sun - AZ
Re: Mid term work comp change needed
Most work comp carriers can write a short term policy to have the expiration date match the insured's normal anniversary rating date. If they can't do that, it becomes a mess at audit with two different rates. You could ask them if they will write an annual policy and then cancel/re-write at normal anniversary date.