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As part of any effective risk management program, the quantification of the Total Cost of Risk (“TCoR”) is an important number to focus on.
This article focuses on how Workers Compensation (“WC”) costs contribute to a company’s TCoR and, specifically, how the Experience Modification (“X-MOD”) factor works and can be managed.
We take TCoR seriously in our risk advisory practice as having a TCoR that is lower than a company’s peers gives that company a competitive advantage in, both, how it conducts its business and the opportunities it can pursue.
Request a copy of Total Cost of Risk (TCoR) – Strategies for Cost Savings, below: