Which factor is least considered when determining workers' compensation premiums?

In determining workers' compensation premiums, several key factors are typically evaluated to assess the risk associated with insuring a business. The employee's work experience is often considered to a lesser extent compared to other factors. While an experienced employee may present a lower risk of workplace injury, insurers predominantly focus on broader indicators of risk that impact the entire workforce.

The number of employees is crucial, as higher employee counts generally correlate with increased exposure to potential claims. The type of industry is also a significant factor because different industries have varying risks associated with workplace injuries; for instance, construction sites are riskier than office environments. The geographical location of the business is important as well since certain areas may have higher claims rates or different regulations.

In contrast, while employees' individual experiences can affect premiums to some degree, this factor is comparatively less influential on the overall calculation when determining group premiums for the entire workforce. Thus, the employee's work experience is indeed the least considered factor in the overall assessment of workers' compensation premiums.