W. L. Hall Company's Exceptional Experience Modification (MOD) Rate
The W.L. Hall Company is extremely proud to report that our 2022 experience modification (MOD) rate is at an all-time low of .66. We have worked extremely hard to implement a culture that is focused on safety throughout the entire organization. Despite record hours in the field the changes we have made and the directives we have implemented continue to pay great dividends.
A experience modification (MOD) rate contributes to how much companies pay each month in workers’ compensation premiums. It is partly determined by the industry classification in which a company operates and how many OSHA recordables it accumulates. If a company’s MOD rate is 1.0, they pay the industry’s average rate.
The experience modification (MOD) rate plays a critical role in many U.S. commercial construction bidding scenarios. Although the MOD rate is primarily used to calculate workers' compensation insurance premiums, it has been widely adopted by federal, state, and local agencies to evaluate the job site safety records and risk potential of contractors and construction companies that are bidding on projects. Many government agencies require documented proof of the MOD rate for bid submissions and use it as a factor in the selection process. Even more important, a high MOD number may disqualify contractors from submitting a bid in the first place.
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