Category Archives: Insurance Agencies

The Importance of Your EMR to Your Workers’ Compensation Premiums

When it comes to workers’ compensation coverage, you may have heard the experience modification rate reference. The EMR directly affects your insurance premiums, but many business owners know little about how the ex mod calculation works. The following breaks down the ex mod rate so you can grasp its impact on your rates.

Understanding EMR

An ex mod rate is the rating modifier that workers’ compensation adjusters use to incentivize you to keep a safe workplace. When you see your ex-mod rate, it will be expressed as a percentage based on your company’s claims or loss history.

Industries have a base rating, represented by 100%. Your ex mod may be higher or lower than that percentage. If your rating is higher, you have a debit, if below, you have a credit. To calculate your ex mod, the size of your business, your expected losses and your industry is taken into account. Your EMR is important because it can increase or reduce your workers’ compensation premium costs.

Lowering Your EMR

If you want to lower your EMR, you have to lower the number of incidents in your business. For example, if you have a high rate of accidents, you will have a higher ex mod rate. To prevent accidents, invest in a risk mitigation program and ensure that you have safety plans in place to help with accident prevention.

When it comes to your workers’ compensation costs, you need to consider your ex mod. When your EMR is low, so are your premium costs.


Effective Online Presence

3 Ways to Have an Effective Online Presence for Your Agency

Having an online presence is essential to the growth of your business. Many customers use search engines such as Google and Safari to find potential insurance agencies near them. If search results exclude your company details, you’re potentially missing out on a significant new market source. Here are three effective search engine strategies for agencies that may help you grow your business.

1. Establish a Local SEO Strategy

More than 50% of online searches include local components, which means many people search for businesses or services located within a close distance. This is why having a local SEO strategy is crucial to your insurance agency’s growth and stability. When you focus on establishing local SEO, you also create a potential flow of steady clients and customers.

2. Maintain Organic SEO

It’s essential to utilize organic SEO strategies to keep your agency’s search rankings high or improve them. When you combine organic methods with local SEO strategies, insurance companies increase their online visibility and help search engines index their content.

3. Utilize Social Media 

Facebook comments and shares may not directly influence your search rankings, but utilizing social media platforms may unlock a new customer base if used along with an SEO campaign. Using social media tools can also potentially improve how others discover your agency.

When you have an SEO strategy in place, you are setting your business up for success. With a significant online presence, you can rest assured knowing you are helping your company’s long-term progress.