Northern Safety Solutions Kinney Pike Insurance Loss Control Division
In an ever-changing professional liability environment, it is important to have a trusted team of professionals with a proven track record on your side. Managing risk effectively is critical to a successful business, and business leaders appreciate knowing their insurance agent is looking out for them.
Our Northern Safety Solutions professionals have the resources to better protect you and your business. As Vermont’s only Assurex Global Partner, we are well positioned to offer access to a wide range of insurance products and services, as well as an experienced team of in-house risk management and loss control experts. Northern Safety Solutions’ Loss Control team helps clients minimize loss, protect their assets and make them better companies. Through targeted programs, Northern Safety Solutions offers a broad range of services and practical advice to support your company’s risk management needs, resulting in well-managed loss control programs. We work closely with our clients to review exposures and loss histories, identify important claims trends and risk areas, and develop the appropriate resources and tools to reduce the potential for loss. Our comprehensive Succeed Risk Management tool helps reduce risk, save time and promote employee safety by creating effective risk mitigation programs. Our Business Insurance Specialists meet each new challenge with expertise and industry intelligence. We examine issues from all angles and creatively address risk management issues, delivering clients access to the latest risk management tools in the industry. We are real people who know you, navigate and advocate on your behalf.
MyWave Risk Management Center
Exclusively for our Business Insurance clients, our MyWave Risk Management Center is an online resource that helps you fulfill your unique compliance, HR, wellness, risk management, and safety needs. The platform is available 24/7, connecting you to services that can streamline your business—all with just a click of a button.
We work with multiple risk management experts throughout New England to provide customized consultation for all industries. Our risk management consultants strategically plan and implement loss prevention solutions, tailored to each client’s needs and goals. Services include risk evaluations, training, and practical advice in key areas, such as:
- Employee and Supervisory Training
- Product Liability
- Vehicle Fleet Safety Management
- Safety Bulletins
- Quality Assessment Programs
- Training Resources
- Property Conservation
- Consultation Services
- Occupational Safety and Health Administration (OSHA) Compliance
- Risk Audits
- Employee Workshops/Seminars
Experience Modification Calculation Software:
What it is: An experience mod is a factor that is calculated for each employer who qualifies. The mod factor is a value that compares the claim profile of the employer to the claim profile that would be expected of an employer of similar size (payroll) in the same industry (class codes). A value of 1.00 is average, meaning the frequency and severity of actual losses equaled the expected losses. A mod factor greater than 1.00 means the employer experienced worse than expected losses during the rating period, and a mod of less than 1.00 indicates the employer’s losses were better than expected for the rating period.
How it’s used: An individual employer’s experience mod is calculated using claims data from the three most recently completed years. First, each claim’s incurred (paid, plus reserved) value is listed. Next, the frequency of claims is evaluated. Also, in some states only a percent of the ‘medical only’ claims are used in the formula, which puts more weight on frequency of claims than severity of claims. Finally, these adjusted claims are compared to the expected losses for the class and size of the organization, which ultimately determines the experience modification factor assigned to the individual employer. Credit mods (less than 1.00) reduce premium, while debit mods (greater than 1.00) result in a premium surcharge. This allows us to project your future modification rate in order to determine next year’s premium rates. With an experience modification rate projection done in advance, we can provide you with multiple options to reduce your premium prior to next year’s policy renewal. Due to the fact that claims affect your experience mod for three full years, understanding the cost of those claims and how they will affect your rates is important.
How we can help you lower your Mod score: Our risk management services can assist clients in order to create safer work environments which help reduce the associated costs of claims that affect their bottom line. Safer work settings have also been shown to boost employee morale and increase productivity further assisting with company growth and efficiency. A proactive risk management effort along with the resources we have available can significantly help you mitigate claims.
Risk Management & Safety Services Team
Risk Management Coordinator
Risk Management Consultant, Tech Resources/Health and Wellness
Risk Management Consultant First Aid & CPR/AED Trainer, VT SafetyNet
Daniel S. Cote
Risk Management Consultant, Cote Risk Management
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