Your work comp experience modification factor is the single most important factor in determining your premium. MODhammer is a tool that allows you to exercise your rights to participate in your loss reserves. It is an exclusive service that is offered only to customers of The Starr Group at no cost.
- Fact: Workers' compensation claim reserves are a tax benefit for insurance companies and thus are sometimes set higher than the final settlement.
- Fact: The Starr Group uses a third party firm (MODhammer) that negotiates on your behalf any outstanding workers' compensation claim reserves.
- Result: They verify and correct any discrepancies in the experience modification calculation. The average result is a 34% reduction in reserve amounts. This, in turn, results in an average 27 point reduction in your company's workers' compensation experience modification factor!
- When an employee is injured, the amount paid and the reserve assigned to the case count against your workers' compensation experience modification factor for a period of three years.
- Per statute, every business has the legal right to participate in this process. However, very few if any companies or their agents have the knowledge or ability to successfully accomplish this task. This is where MODhammer comes into play.
- MODhammer is the only company of its kind in the entire country. They have trained experts who have the power to negotiate open claim reserves with your insurance company. They have a proven track record of over twenty years of success.
- Workers' compensation law is very specific regarding the process and procedures that must be followed to negotiate workers' compensation reserves.
- Even if you can successfully get an insurance company or agency to reduce a reserve, that doesn't mean the reduction will be reflected in your next experience modification calculation due to timing or clerical issues.
- Only through The Starr Group. We have exclusive rights to MODhammer in the State of Wisconsin.
