Derrick Companies was recently notified that the firm’s outstanding safety record has resulted in the Minimum Experience Modification Factor in calculating Worker’s Compensation insurance rates. This is a significant accomplishment and a testament to the attention to safety on job sites and the overall culture at Derrick Companies.
The Experience Modification Factor adjusts workers compensation insurance premiums for a particular employer based upon a comparison of past losses of that employer to what is calculated to be average losses of other employers in that state in the same business, adjusted for size. Wisconsin has its own rating bureau for determining the EMF which also integrates with the National Council on Compensation Insurance. In summary, this means that Derrick Companies has a documented and measured safety record that far exceeds companies in the same business in Wisconsin and offers one of the safest places to work in the industry.
Derrick Companies is a New Richmond-based construction firm specializing in commercial design-build projects, custom homebuilding, and land development throughout Western Wisconsin and Eastern Minnesota. The firm was also recognized in February by Associated Builders and Contractors of Wisconsin (ABC-WI) with the Gold Safety Award at the annual SuperCon Conference for an excellent safety record and is also a recipient of the Platinum Level Safety Training and Evaluation Process (STEP). STEP is an ABC-WI self-audit program which provides a valid objective method to measure a company’s safety plan and improvements and Platinum Level is the best possible rating of the program.