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Ownership and Experience Rating

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Ownership and experience rating can be complex and at times confusing when navigating the intricate regulations. In addition to illuminating the Ownership process, this new self-paced course demystifies the impact on an experience modification (X-Mod) when a business is sold or acquired by new owners and much more. The course also provides step-by-step methods to evaluate a change in ownership and ascertain whether the experience should apply to a new owner.

Composed of 8 modules (5 hours of training), the Ownership and Experience Rating course will help learners:

  • Review changes in ownership for businesses and determine what happens to the X-Mod.
  • Identify when businesses that share common ownership must be combined for experience rating.
  • Know when separate entities can be covered on the same policy.
  • Understand why it is important to obtain detailed ownership information when underwriting a policy.
  • Use WCIRB Connect to submit and check the status of a change in ownership for a policyholder.

The Ownership and Experience Rating course is approved for 5 CEU toward a Property & Casualty license with the California Department of Insurance. 

CompEssential Course Pricing


 

About CompEssentials

The WCIRB CompEssentials online training program includes Classification Basics and Experience Rating Fundamentals. These courses are not a prerequisite for taking Ownership and Experience Rating, but familiarity and basic understanding of these integral topics will enhance your understanding of Ownership and Experience Rating and workers’ compensation overall. 

To enroll in these courses and for more information on CompEssentials, visit the WCIRB CompEssentials page.