Insurance Xdate > Reports > IN > Iron Out Inc


Commercial Insurance Overview

Iron Out Inc is based in Allen county in Indiana. They operate in the Services industry, specifically in Business Services Nec, 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 their current carrier for only one year, they are either a new company, or a new listing in our database. We see commercial coverage for them in 3 states including Alabama, Florida, Indiana.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.633. A 1.633 LCM overall is a bit high, but check the market comparison below for more details.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Iron Out Inc. This can give you an idea of what carriers might best fit your business.

$3.85$0.75
Erie Ins Grp
$1.50
$1.04$2.30
Berkshire Hathaway Grp
$2.20
$1.20$2.08
Hartford Fire & Cas Grp
$1.91
$0.83$3.56
Travelers Grp
$1.32
$0.85$3.85
Amtrust Ngh Grp
$1.85
$1.00$2.30
State Farm Grp
$2.09
$1.14$2.10
Selective Ins Grp
$3.03
$1.10$3.43
Markel Corp Grp
$2.06
$1.40$2.39
Proassurance Corp Grp
$1.65
$1.00$1.73
Liberty Mut Grp
$1.56
$0.75$3.20

Market Comparison for Iron Out Inc

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
Needs Attention

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 Higher than 63% of peers.
  • Shopping around for a carrier that would provide a more competitive tier would make sense.
Needs Attention

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.

  • 11% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 5.4% of the market.
Good

Business Owners

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  2. Try our 100% free premium estimate tool to compare coverage options.
  3. Get a Quote from a real agent, guided by our market insights.

Premium Estimate

Agents

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Policy Renewal Date
Current Carrier
Policy Number
SIC Code
NAICS Code
LCM
Multiple Locations
Multi State
Carrier Tenure
Employees
Contact Phone
Benefits
FEIN
Coverage History


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Carriers & Underwriters

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  • Competitive Account Won/Loss
  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis