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WCIRB CompEssentials: Ownership and Experience Rating

Ownership and experience rating can be complex and at times confusing when navigating the intricate regulations. In addition to illuminating the ownership process, this 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 eight modules (five 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 five Continuing Education (CE) credits toward a Property and Casualty license with the California Department of Insurance.