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What Is An X Mod? 
An experience modification  or (X Mod) compares the loss or claims history of one company to all other companies in the same industry that are similar in size.

An experience modification that is greater than 100% usually increases the cost of an employer's workers' compensation insurance, while an experience modification that is less than 100% usually decreases the cost of an employer's workers' compensation insurance.
Experience Modification = Actual Losses / Expected Losses
What's your experience modification?
Your experience modification is calculated by comparing the actual losses to the expected losses.

Actual losses are the medical and indemnity claim costs resulting from a work-related injury, that an insurance company has paid or expects to pay in the future. 
Expected losses represent a business's projected losses for the industry in which it operates. 

In other words, given its classifications and payroll, its expected losses represent the statistical average losses that a business of a similar size in the same industry is expected to incur. The larger the business, in terms of payroll, the more losses that business is expected to incur.
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