waterwelljournal.com 42 n February 2021 WWJ
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Non-ERA States – Year 2
For type 6
losses in a
state where
ERA is NOT
approved
No Losses
Less Than
$1000
Reported
One $1000
Loss per
Quarter
Reported in
2013
Potential
Savings of
Reporting
MOD
Effective
January 1,
2015
MOD factor 0.95 1.06 –0.11
Estimated
premium
due (MOD ×
$50,000 man-
ual premium)
$47,500 $53,000
–$5500
The $5500 cost in premium impact includes $4500
for the 2012 losses and $1000 for the 2013 losses. The
$1000 cost for 2013 reported losses will also apply to
the 2016 and 2017 MODs.
Self-paid
claims cost
(one $1000
loss per
quarter)
$4000 0.00 $4000
Year 2 total
cost of risk
$51,500 $53,000 –$1500
Cumulative
two-year
total cost
of risk
$111,000 $105,000 $6000
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