SVARA LLC

101 LITTLE NECK RD, STE 8B
SAVANNAH, GA 31419

Talking Points

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

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 36th percentile.
Good

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 Decreased by 39%. While peers Increased an average of 2%.
Good

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.

  • 9% of peers have changed carriers since last year.
  • Of those who changed carriers, 5.8% decreased their LCM vs those who stayed with their current provider who saw a 3.2% increase.
  • Current Carrier's market share is in the 95th percentile at 15.4% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.100
2021
02-03-2021

1.800
2020

1.770
2019

1.670
2018

1.670

Contacts

Togxwu Astpzj
Principal
(622) 516-6441
f2f

Industry Classification