The Experience Mod or E-Mod - your business's nightmare credit report. How does a credit report compare to the E-Mod or X-Mod?

The main difference between a credit report and a Workers Comp E-Mod is how fast each can be corrected. Let's say that you have your business's E-Mod and your credit report sitting in front of you. If you find a way to correct something in the credit report, the results are immediate. If you want to try to improve your E-Mod and take steps to improve it, the results will take many months or years to show for your efforts.

Another major difference is that if you find an old error on your credit report, you can fix the old error immediately. For instance if you find an error from 2000 on your credit report, you can fix the error and improve your credit score. You cannot correct a Workers Comp reserving error from the year 2000. It just does not work that way.

Check out my next blog to see why correcting an error on your loss run from the year 2000 will not help your E-Mod.

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