Olson Electrical Services is based in Alameda county in California. They operate in the Construction industry, specifically in Electrical Work, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
It looks like they just changed commercial insurance carriers. We see commercial coverage for them in 2 states including California, Nevada.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 2.866. A 2.866 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 130% which is a significant shift. It is worth investigating why.
An Experience Mod (MOD) is a rate applied to the business. It represents how risky the business is based on past claims. This business has a MOD of... You'll need to join... Which is a little high, but really depends on the type of business. The rating based on their claims (MOD) increased by INF% which is not good. It is worth investigating why, and taking action to mitigate risks
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Olson Electrical Services. This can give you an idea of what carriers might best fit your business.
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
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.
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.
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains: Policy Renewal DateCurrent CarrierClass CodeSIC CodeNAICS CodeEx MODLCMMultiple LocationsMulti StateCarrier TenureEmployeesContact PhoneFEINCoverage History
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We will utilize our unique insights into the business insurance market to find up to three appropriate carriers and agents, and will put them in contact with you to provide a quote.
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