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.
• Premium decrease and carrier tier change may indicate competitive situation and incumbent prevailed.

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 Higher than 85% of peers.
• In the last year, premium Decreased by 42%. While peers Increased an average of 5%.

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 83rd percentile compared to peers.
• Mod increased by more than 75% of peers.

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 Higher than 78% of peers.
• Shopping around for a carrier that would provide a more competative tier would make sense.
• In the last year, LCM Decreased by 16%. While peers Increased an average of 1%.

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.

• 13% of peers have changed carriers since last year. Those who did, saw a 31.9% decrease in premium vs those who stayed with their current provider had a 9.5% increase, roughly 3x those who stayed with their current provider.
• Of those who changed carriers, 5.3% decreased their LCM vs those who stayed with their current provider who saw a 2.4% increase, a difference of roughly 2x.
• Current Carrier's market share is in the 99th percentile at 21.3% of the market.