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r retrospective rating workers comp plans

The Benefits of a Retrospective Rating Workers Comp Plan

There is little dispute that workers compensation coverage can be confusing. If you are the one within your organization who must find affordable, comprehensive coverage, the task can seem daunting. Fortunately, when you collaborate with the right agent, purchasing a policy is usually relatively straightforward. When looking for coverage, you may want to consider retrospective rating workers comp plans. Here are some of the many benefits of this type of coverage.

Premium Determination

When companies negotiate premiums before a policy begins, workers comp coverage can seem like a waste of money. That is if your organization has no injuries, why do you have to pay so much for coverage? With a retrospective rating plan, insurers calculate premiums after the policy expires. As such, actual loss, rather than hypothetical ones, determine the cost a company pays.


Generally, to qualify for a retrospective rating plan, companies usually play an active role in controlling losses. They also must work to predict losses accurately and credibly. The benefit of qualifying for a retrospective rating plan, however, is clear. Companies often save a considerable amount over a similar, guaranteed cost plan.

Retrospective Rating workers comp plans usually provide good coverage at an affordable price. If your company is looking for an effective policy, you may want to consider enrolling in a retrospective rating plan.