What is the UNISTAT date and why is it the most critical date of any Workers Compensation policy?
The UNISTAT date is the actual date that the reserves/total incurred is used to calculate your E-Mods. It is not the policy renewal date. We have seen agents, adjusters, and even some underwriters become so very concerned about an employer's Workers Comp policy during the last month of the policy. Other than marketing the insurance company, the last month of a Workers Comp policy is a useless time to do anything in regards to reducing the reserves on a file.
The UNISTAT report is filed by your insurance carrier with the State Rating Bureau or NCCI to calculate your Experience Mod. The UNISTAT report is one of those kind of "hidden" factors that figures into your Workers Comp policy.
When is your UNISTAT Date? Email us at info@cutcompcosts.com to see when your UNISTAT occurs. As I said in the last paragraph, it is not and never will be your policy renewal date.
The UNISTAT date is the actual date that the reserves/total incurred is used to calculate your E-Mods. It is not the policy renewal date. We have seen agents, adjusters, and even some underwriters become so very concerned about an employer's Workers Comp policy during the last month of the policy. Other than marketing the insurance company, the last month of a Workers Comp policy is a useless time to do anything in regards to reducing the reserves on a file.
The UNISTAT report is filed by your insurance carrier with the State Rating Bureau or NCCI to calculate your Experience Mod. The UNISTAT report is one of those kind of "hidden" factors that figures into your Workers Comp policy.
When is your UNISTAT Date? Email us at info@cutcompcosts.com to see when your UNISTAT occurs. As I said in the last paragraph, it is not and never will be your policy renewal date.
Labels: The UNISTAT Report
posted by James J Moore at 7:51 PM
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