How to avoid the $300K premium trap in workers' compensation with Todd Thams
June 18, 2026
I talk with Todd Thams about how a workers compensation insurance experience mod score functions as a credit rating for your business risk management strategy. We discuss why a score above one point zero can stop you from bidding on contracts and how managing workers comp claims management effectively saves hundreds of thousands of dollars. Todd also explains the financial levers that drive insurance premium negotiation and why your safety training programs must focus on the real human impact of workplace safety.
I welcome Todd Thams to discuss how a workers compensation insurance experience mod score and EMR rating serve as the most critical numbers in your risk management strategy. We look at the financial mechanics of insurance premium negotiation and why a high mod score can literally put you out of business in the construction industry.
Todd shares his transition from a family broker to a tech founder and provides a deep dive into workers comp claims management to show how injury prevention ROI is calculated. We also talk about the dangers of hiring uninsured subcontractors and why protecting your personal assets starts with proper documentation.
What You’ll Learn:
- Why your experience mod score is the credit score of your business safety performance.
- The specific threshold that prevents construction companies from bidding on major contracts.
- How to translate safety data into an ROI that your financial team actually understands.
- The massive legal risks of paying workers under the table and ignoring workers comp laws.
About the Guest
Todd Thams is the founder of ModAdvisor and a twenty year veteran of the commercial insurance and workers compensation industry. He started his career in a family brokerage in rural Iowa where he focused on building scale and deep relationships before launching a software platform to help the entire industry manage mod rates and claims visibility. Todd is an entrepreneur who balances his passion for business growth with a commitment to his family and his role as a girl dad and grandfather.
Episode Resources:
- Todd Thams on LinkedIn
- Michael Zalle on LinkedIn
- Yellow Bird Website
- The Canary Report: Safety & Risk Management on Apple Podcasts
- The Canary Report: Safety & Risk Management on Spotify
- The Canary Report: Safety & Risk Management on YouTube
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