In this Power Producers Podcast episode, David Carothers is joined again by Kevin Ring, lead analyst at the Institute of Work Comp Professionals. The two dive into a critical yet often overlooked aspect of workers’ compensation—understanding common majority ownership and how it affects the experience modification factor (mod). This discussion is vital for agents who deal with businesses that own multiple entities or engage in mergers and acquisitions. Kevin explains why agents need to be proactive in gathering ownership details and completing the ERM-14 form accurately to avoid costly errors and ensure proper coverage.
David and Kevin explore the challenges agents face when dealing with businesses that have ownership stakes in multiple companies, and the importance of combining those companies on the same experience mod. They also touch on how M&A activity and asset purchases can complicate the mod process and why it’s crucial for agents to educate clients on these risks before they make business decisions.
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Kevin explains how the common majority ownership rule affects the experience mod, and why it’s crucial for agents to ensure all companies under shared ownership are combined on the same mod.
Agents often skip asking clients about ownership in multiple businesses. Kevin emphasizes that these questions are critical not just for workers’ comp but also as a sales tool to deepen the client relationship.
David and Kevin discuss the complexities of mergers and acquisitions and how acquiring a company impacts the buyer’s experience mod. They explain why agents must ensure clients understand the financial implications of combining experience mods post-acquisition.
Kevin breaks down how to properly fill out the ERM-14 form, highlighting the importance of providing a narrative and accurate details to the Rating Bureau. This process helps agents avoid confusion and ensure proper risk management.
David and Kevin talk about how some businesses attempt to evade mod increases by creating new entities or joining PEOs. Kevin stresses that while this may seem like a short-term solution, it doesn’t address the root causes of high experience mods.
Kevin advises agents to proactively discuss business transactions, such as buying or selling a company, with their clients to avoid unexpected complications in workers’ comp premiums and ensure proper coverage adjustments.
Influence is one of the most powerful tools we have in business, leadership, and personal life. Used well, it inspires people, builds trust, and creates ethical results. Used poorly, it can slide into manipulation and self-interest.
Reinvention is one of the most powerful themes in the insurance industry. Some of the best commercial producers in the country did not grow up wanting to sell insurance. They did not study risk management in college. They did not come from an agency family. They found this industry after they tried something else. They found it after life pushed them toward a career where performance, autonomy, and mindset determine the outcome.
The most successful producers in the middle market did not get there because they quoted faster, smiled bigger, or knew how to talk longer. They got there because they learned how to differentiate themselves so clearly that prospects had no choice but to see them as trusted advisors. They learned to operate like businesspeople first and insurance technicians second. They learned how to tie operational mechanics to insurance outcomes. They learned how to control their time, their pipeline, and their future.
In commercial insurance, the most dangerous threats to your book of business aren’t always visible on the loss runs. One of the most overlooked vulnerabilities for middle market producers is ignoring the personal lines needs of their business owner and executive clients.
The commercial insurance industry is one of the few professions where someone can enter with no experience, no connections, and no background in risk management and still build a long, lucrative career. But success is never automatic. It requires hunger, humility, curiosity, and the willingness to keep showing up even when the process feels overwhelming. That is why the story of Pam Seidler has already started making waves among new and aspiring commercial producers.
In an industry where tradition often outweighs innovation, artificial intelligence and automation are slowly but steadily reshaping how independent insurance agencies operate. The push toward smarter, more efficient workflows is no longer a matter of if—but when. While many agencies are still evaluating how AI fits into their operations, early adopters are already reaping the benefits of streamlined submissions, faster processing, and actionable data insights.
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