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The following is information on credits that may be available to your Michigan customers:
Renewal
Discount
A policy renewing with Accident Fund after one year is eligible for a 5% renewal
discount.
Experience
Modification Plan
Accident Fund uses the CAOM experience mods adjusted by the following table:
New and Renewal Business Secondary Experience Modification
A/E Range
Manual Premium Range
Greater than
But Less than
or equal to
$0-
$4,999
$5,000-
$10,000
$10,001-
$25,000
$25,001-
$50,000
Over
$50,000
0.4
1.00
0.94
0.92
0.90
0.88
0.4
0.6
1.00
0.96
0.96
0.95
0.92
0.6
0.8
1.00
1.00
0.99
0.98
0.96
0.8
1.0
1.00
1.00
1.00
0.99
0.98
1.0
1.1
1.00
1.00
1.00
1.00
1.00
1.1
1.2
1.00
1.00
1.00
1.00
1.00
1.2
1.3
1.00
1.00
1.00
1.00
1.00
1.3
1.00
1.00
1.00
1.00
1.00
Final Experience Modification Formula
Final Experience Modification Factor (FEMF) =
Preliminary Experience Modification Factor X Secondary Experience Modifaction
Factor
FEMF = PEMF X SEMF
