FIRESIDE HEARTH & HOME SHOP

54 CANTERBURY RD
MURPHY, NC 28906

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 Higher than 61% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCM Increased by more than 75% of peers.
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.

  • 8% of peers have changed carriers since last year.
  • Of those who changed carriers, 6.7% decreased their LCM vs those who stayed with their current provider who saw a 0.8% increase, a difference of roughly 9x.
  • Current Carrier's market share is in the 99th percentile at 15.2% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.790
2023

1.471
2022

1.790
2022

1.380
2021

1.400
2021

1.100
2020

1.340
2020

1.060
2019

1.340
2019

1.060
2018

1.060
2017

1.060

Contacts

Puuqxiw Rrzsfz
(897) 021-1775
phiv@onvjyikysrttjm.gqk

Industry Classification