Service ⸺ accurate and courteous
Serving Our Participants
The Builders Trust Underwriting staff performs continual monitoring and risk assessment to ensure our Participants remain satisfied with our coverage and services.
In addition to binding new business, our Underwriting Department is charged with annual renewals, sending data to the New Mexico Workers’ Compensation Administration as well as the National Council on Compensation Insurance, (NCCI).
Workers’ Compensation Premiums
Workers’ compensation premiums are calculated based on the gross annual payroll you pay to employees.
The more payroll expenses you have the higher your workers’ compensation coverage premiums. Further, your premiums are also impacted by your claim history – the more injury claims a business has, the more likely your premiums will increase.
Finally, your premiums are impacted by your experience modifier. The modifier adjusts your premium rates based on a comparison of past losses of the employer, to what the average losses are for other employers in your state in the same line of business.