80 NEBRASKA CATTLEMAN March 2024 Rod’s Power Sports Lincoln, NE • 800-898-9411 www.rodspowersports.com Own the best. Period. •Rugged yet easy-towing •All-aluminum; built to last •Unmatched versatility and strength •Unrivaled resale value 24’ 8127 Gooseneck Trailer Your Featherlite Livestock Trailer Superstore 16’ 8107 Bumper Pull Trailer Great selection, great prices! • Rugged yet easy towing • All aluminum; built to last • Unmatched versatility and strength • Unrivaled resale value 2024 MODELS ARE IN STOCK NOW! Special pricing on all remaining 2023s! Lincoln, NE • CALL or TEXT (402) 423-6230 NC0324.indd 1 1/23/2024 12:34:42 PM lost time, a discounted rate applies to losses over a specific amount known as the split point. SPLIT POINT The split point plays a pivotal role in determining the impact of large claims on the experience mod. The split point separates each claim into two components: Primary (encompassing expenses below the split point) and Excess (including expenses exceeding the split point). The experience calculation places significant importance on primary costs while assigning only partial weight to excess costs. NCCI’s recent update changed the split point from a one-national level to a state-specific split point. For example, Nebraska’s split point is now $21,000 (from $18,500); when the experience mod is calculated, less weight is given to a claim’s dollars greater than $21,000. Tailoring the calculation to local situations rather than relying on a national average enhances the accuracy of the experience mod calculation, better reflecting each state’s unique injury costs. HOW NCIG CAN HELP With the recent change in the split point, we can assess how this modification may impact your operation directly. We use the analysis tool ModMaster and meet with you to review specific claims with the goal of identifying cost drivers and trends that affect your experience mod. From our risk analysis we work with you to develop cost-saving strategies. Our resources don’t stop there. Our loss control team has years of experience helping clients with loss prevention strategies and creating safe work environments. The NCIG loss control team works closely with our carrier partners to develop a risk management plan based on your specific risk exposures and loss experience. In the ever-changing realm of workers’ compensation, NCIG stands as your ally in navigating these changes. As the dust NCIG CONTINUED FROM PAGE 78 CONTINUED ON PAGE 82
RkJQdWJsaXNoZXIy NTMxNTA5