The Most Important Time for July 1st Renewals for Workers Compensation Is Now

November 10, 2014

Research done by Apex Services (, a leading company in workers compensation premium recovery, has shown that a large percentage of employers renew their workers compensation policy on July 1st.  For these employers with July 1st renewals, their workers compensation policy may not be at the forefront of their minds because they are not renewing for another seven months.  However, what many employers do not realize is that the next two months are the most crucial time of year for July 1st renewals.workers compensation premium recovery


The reason that the next two months are imperative for July 1st renewals is that that the experience modification is calculated six months prior to policy inception. 


Therefore, the single most important factor in calculating the workers compensation premiums (the experience mod) will be published within a short couple of months.  This gives employers just enough time to review their claims and make sure that there are no glaring errors being committed by the insurance companies in handling their claims that would lead to workers compensation overcharges.

Of course the system in which the experience mod is calculated is a complex one.  Even when employers meticulously manage their workers compensation claims, there are often errors in the calculation of the experience mod committed by the insurance company that are complex in nature and cannot be spotted by someone who is not an expert in workers compensation. The easier and more effective way is to have real workers compensation experts (like the professionals at Apex Services) review the upcoming, current, and prior experience mods to pinpoint the errors committed by the insurance companies. Apex Services workers compensation premium recovery is done on a contingency basis to reduce current and future premiums and obtain refunds on prior premiums.