Insurance Xdate > Reports > CO > Act For Health Inc
Commercial Insurance Overview
Act For Health Inc is based in Denver county in Colorado. They operate in the Services industry, specifically in Offices and Clinics of Medical Doctors, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
Having been with the same worker's comp carrier for 8 years, it may be wise to shop around. We see commercial coverage for them in 25 states including Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Maryland, Maine, Missouri, North Carolina, Nebraska, New Hampshire, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Vermont, California.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 0.974. An LCM of 0.974 is pretty good. More details on how it compares can be seen below. The (LCM) that they are with increased by 29% 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 an excellent rating no matter the industry, and should be able to shop aggressively. 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
We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has increased by 13%. Relevant questions to ask are has payroll increased or have claims increased?
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Act For Health Inc. This can give you an idea of what carriers might best fit your business.
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$3.85$0.75
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| $1.50 32117 Businesses 2242 | ||
| $2.20 25207 Businesses 6534 | ||
| $1.91 87% 22158 Businesses 2305 | ||
| $1.32 14924 Businesses 1409 | ||
| $1.85 13877 Businesses 1630 | ||
| $2.09 5438 Businesses 624 | ||
| $3.03 5406 Businesses 336 | ||
| $2.06 2% 5380 Businesses 375 | ||
| $1.65 5258 Businesses 382 | ||
| $1.56 25% 4667 Businesses 343 |
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Calculate Premium EstimatesEnter 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. |
Market Comparison for Act For Health Inc
For the Agent
These are points that might help guide an agent as they look to approach a prospect.
- Premium decrease and carrier tier change may indicate competitive situation and incumbent prevailed.
Premium
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 is in-line with peers, in the 65th percentile.
- In the last year, premium Increased by 13%. While peers Increased an average of 13%.
Experience Mod Rating
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is high. It is in the 100th percentile compared to peers.
- Mod increased by more than 75% of peers.
LCM Rate
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 is Very Good, in the 1st percentile compared to peers.
- In the last year, LCM Increased by 29%. While peers Increased an average of 3%.
Market Competitiveness
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.
- 7% of peers have changed carriers since last year.
- Of those who changed carriers, 3.8% decreased their LCM vs those who stayed with their current provider who saw a 2.8% decrease.
- Current Carrier's market share is in the 1st percentile at 0.7% of the market.
Business Owners
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Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
- Competitive Account Won/Loss
- Competitive Class distribution
- Appetite Analysis
- Market Share Analysis