These are points that might help guide an agent as they look to approach a prospect.

• Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium.Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

• Premium isHigher超过75％的同行。

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

• The LCM of the Current Carrier isHigher超过86％的同行。
• Shopping around for a carrier that would provide a more competative tier would make sense.
• LCM增加by more than 75% of peers.

We measure relative change (when a business chooses a different WC provider), and market share distribution over a rolling 24 months as compared to it's industry and state level activity to determine how competitive carriers are for your class of business.

• 5% of peers have changed carriers since last year. Those who did, saw a 15.4% decrease in premium vs those who stayed with their current provider had a 1.1% increase, roughly 15x those who stayed with their current provider.
• Current Carrier's market share is in the 75th percentile at 3.5% of the market.