IAT REINSURANCE CO LTD IAT INSURANCE GROUP INC

702 OBERLIN RD
RALEIGH, NC 27605

Talking Points

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 30th percentile compared to peers.
  • In the last year, LCM Increased by 5%. While peers Increased an average of 1%.
Average

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.

  • 16% of peers have changed carriers since last year.
  • Of those who changed carriers, 17% decreased their LCM vs those who stayed with their current provider who saw a 4.5% increase, a difference of roughly 4x.
  • Current Carrier's market share is in the 99th percentile at 41.9% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.144
2022

3.267
2022

3.189
2022

2.583
2022

2.062
2022

1.870
2022

3.251
2022

-
2022

1.121
2022

-
2022

2.367
2022

1.110
2022

1.776
2022

2.030
2022

1.725
2021

2.620
2021

1.842
2021

1.788
2021

2.137
2021

1.470
2021

2.610
2021

-
2021

1.056
2021

-
2021

1.170
2021

1.486
2021

1.976
2021

1.523
2020

-
2020

2.603
2020

1.985
2020

2.366
2020

1.620
2020

-
2020

3.151
2020

-
2020

1.056
2020

-
2020

1.104
2020

-
2020

1.486
2020

-
2020

1.976
2020

1.902
2020

1.523
2019

-
2019

-
2019

-
2019

-
2019

1.203
2019

2.329
2019

-
2019

-
2019

1.463
2019

1.858
2019

1.491
2019

1.495
2019

-
2019

1.642
2019

1.455
2019

1.126
2019

-
2019

1.698
2019

-
2019

1.500
2019

-
2019

1.323
2019

1.380
2019

1.296
2019

-
2019

1.374
2019

-
2019

1.763
2019

-
2019

1.323
2019

1.470
2019

1.296
2019

-
2019

1.681
2018

-
2018

-
2018

2.329
2018

-
2018

-
2018

1.203
2018

1.491
2018

1.944
2018

-
2018

1.642
2018

1.387
2018

-
2018

1.711
2018

-
2018

1.269
2018

-
2018

-
2018

1.374
2017

-
2017

-
2017

2.329
2017

-
2017

1.203
2017

-
2017

1.582
2017

1.387
2017

-
2017

1.711
2017

1.269
2017

-
2017

1.374
2017

-
2016

-
2016

-
2016

1.550
2016

-
2016

1.093
2016

-
2016

-
2016

1.269
2016

-
2016

1.374
2016
03-01-2016

1.645
2016
03-01-2016

-
2016
03-01-2016

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

1.374
2015
03-01-2015

1.645
2015
03-01-2015

-
2015
03-01-2015

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

1.554
2014
03-01-2014

-
2014
03-01-2014

-
2014
03-01-2014

-
2014
03-01-2014

-
2013

-
2013

-
2013

-
2013
03-01-2013

-
2013
03-01-2013

-
2012

-
2012
03-01-2012

-
2012
03-01-2012

-
2012
06-01-2012

-
2011

-
2011
03-01-2011

-
2011
06-01-2011

-
2010
03-01-2010

-
2010
06-01-2010

-
2009
03-01-2009

-
2009
06-01-2009

-

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Industry Classification