Safety has been and will continue to be the highest of priorities for Biscayne. To that end, the Insurance industry calculates and assigns a rating to all companies based on expected losses for companies performing specific values of work against actual losses incurred over a calendar year.
The resulting figure is known in the industry as the EMR (Experience Modification Rating) which is the insurance industry equivalent of the credit score in the finance industry. The EMR is particularly important because it is the primary factor in the the rates paid for insurance and with many of our customers, a determining factor in whether or not a contract can be awarded.
For most of our Federal Customers, an unacceptable EMR would preclude award of a construction contract no matter how good our price, proposal or track record.
Although the calculation is difficult to explain, an EMR less than .90 is good and anything in the low .80’s is very good. We are pleased to announce that for the seventh consecutive year our EMR has steadily declined from .88 in 2011 to our current 2018 rating of 0.81. This is commendable and a source of pride for the entire Biscayne organization.
2018 = .79 Current