What is the difference between a bid bond, a performance bond and a payment bond? Joseph Blanner – Partner at McCarthy, Leonard & Kaemmerer The three primary bonds that are purchased on construction projects are bid bonds, performance bonds and payment bonds. Over the years, I have spoken to contractors and owners and, in many […]

60:30:10 is the New 80/20 Rule Sometimes the best discoveries are the simplest observations… Whether you know it as the Pareto Principle or the 80/20 Rule, the definition of this famous business rule simply states that, “20% of your priorities will give you 80% of your production IF you spend your time, energy, money and […]

Instructions Obtain your EMR rate information from your insurance agency. All insurance agencies are required to provide the EMR rate to their corporate customers at the beginning of each fiscal year. If you are unsure about your current EMR rate, contact your insurance agent to find out what your rate is. Your EMR rate can […]

General Overview This section provides a brief explanation of experience rating and the process of calculating the experience modification. However, it will not address all of the details of the experience modification calculation and associated terminology. For additional information or clarification, please contact the Bureau. Experience Period The experience rating calculation generally consists of an […]

Experience Modification Rate (EMR) has strong impact upon a business. It is a number used by insurance companies to gauge both past cost of injuries and future chances of risk. The lower the EMR of your business, the lower your worker compensation insurance premiums will be. An EMR of 1.0 is considered the industry average. […]