Experience modification rate definition
Experience modification rate means a ratio comparing actual losses to expected losses based on a formula determined by an approved rating organization and which includes three years of loss information.
Experience modification rate means a ratio comparing actual losses to expected losses based on a formula determined by an approved Rating Organization or the Commission.
Experience modification rate or “EMR” – Ratio of a company’s frequency and severity of injuries vs. an average estimated amount of loss for that industry, based on Workers’ Compensation information
Examples of Experience modification rate in a sentence
The Contractor must provide upon request the OSHA incident rate and Experience modification rate for Company’s review.
The Contractor must provide upon request the OSHA incident rate and Experience modification rate for Owner’s review.
The Contractor must provide upon request the OSHA incident rate and Experience modification rate for Owner's review.
More Definitions of Experience modification rate
Experience modification rate or “EMR” means a numeric representation of a firm’s claims history and safety record as compared to other businesses in the same industry.