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Understanding Your Workers’ Compensation Experience Modification Factor

Answers to Your Mod Factor Questions A key to understanding your workers’ compensation premium is the experience modification factor, also known as your mod. Understanding your company’s mod and the data used to obtain it helps you identify ways to minimize your workers’ compensation premium. Who calculates the mod factor? Most states use the National Council on Compensation Insurance (NCCI) to collect data and calculate the experience modification factor. The NCCI is a private corporation funded by member insurance companies. The remaining states either operate an independent workers’ compensation bureau or have set aside a state fund for workers …

https://www.epicbrokers.com/insights/understanding-your-workers-compensation-experience-modification-factor/

EPIC Adds Teddy Gillen to Healthcare Practice

… on reducing costs, mitigating risk, and improving patient care in the Healthcare industry. Gillen also held positions with Marsh USA, Inc., WS Pharr & Co., and Brown & Brown. “We are fortunate to have Teddy join our growing national healthcare practice. He brings a wealth of knowledge and expertise that will benefit our clients and our organization,” noted Matthew LeBlanc, Healthcare Practice Leader, East Region. Gillen will report to LeBlanc. Gillen earned a Bachelor of Business Administration from University of Georgia – Terry College of Business in Risk Management & Insurance. Gillen may be reached at or 404.550.5561.

https://www.epicbrokers.com/insights/epic-adds-teddy-gillen-healthcare-practice/

Covering Coronavirus: Risk Considerations Volume 1, Issue 20

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Insurance Products & Coverage Insights Gained From July Renewal Period Mid-year renewal is a critical time of the year for many Insureds. With the coronavirus pandemic continuing to wreak havoc on the world, many insurance markets remain dynamic. EPIC released a report assessing the impact of the …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-20/

Covering Coronavirus: Risk Considerations Volume 1, Issue 19

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Insurance Products & Coverage Pandemic Insurance Could Emerge as a Public Private Partnership Insurers are lobbying for a federal pandemic insurance program that would pair up their capital with federal government backing to deliver funds to businesses damaged by the next outbreak. This would exclude any future outbreaks …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-19/

PPP Loan Insurance

PPP Loan Insurance The Paycheck Protection Program (PPP) provides a forgivable loan to small businesses to directly incentivize keeping workers on the payroll during the COVID-19 pandemic. The Small Business Administration (SBA) will forgive loan repayment so long as specific employee retention criteria are met and the funds are used for eligible expenses. In these precarious times, retention of PPP funds is critically important to its recipients. Unfortunately, with a new program comes uncertain regulation. The SBA audit window is six years. If deemed an ineligible recipient, the recipients of PPP loan proceeds may have to return the loan …

https://www.epicbrokers.com/insights/ppp-loan-insurance/

Surety State of the Union July 2020

… next 30 days. We can expect to see a rise in defaults on contract surety bonds because of this. However, the market for performance and payment bonds has remained strong since it is the largest annual surety demand by volume, and each project or contractor has their own level of risk and is judged individually. Contractors in the oil and gas space could have some jobs canceled entirely due to cutback, impacting future backlog. Surety capacity is still available to these contractors, but the job opportunities are likely to become more scarce. Those who bid more government work will find …

https://www.epicbrokers.com/insights/surety-state-of-the-union-july-2020/

Covering Coronavirus: Risk Considerations Volume 1, Issue 18

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Supply Chain & Business Risks U.S. DOL Acts to Help American Workers and Employers The United States Department of Labor (DOL) recently took a range of actions to support and protect American workers and employers amidst the ongoing coronavirus pandemic. Perhaps the most significant was its awarding …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-18/

Covering Coronavirus: Risk Considerations Volume 1, Issue 17

… The best sources overall for timely information on the coronavirus pandemic remain the Centers for Disease Control (CDC), the World Health Organization (WHO) and Occupational Safety and Health Administration (OSHA). EPIC continues to compile resources to aid in understanding the impact of the pandemic on employers, their workforces and the management of risk. Supply Chain & Business Risks Check Idle Buildings for Legionnaire’s Disease Before Reopening America’s reopening efforts are bringing some employees back to office buildings that have sat idle for several months. Before allowing employees to enter a building; however, it is important to flush and sanitize …

https://www.epicbrokers.com/insights/covering-coronavirus-risk-considerations-volume-1-issue-17/