ARC INDUSTRIES

2020 HAMMOND DR
SCHAUMBURG, IL 60173

Talking Points

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 40th percentile.
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.

  • 20% of peers have changed carriers since last year. Those who did, saw a 18.7% decrease in premium vs those who stayed with their current provider had a 3% decrease, roughly 6x those who stayed with their current provider.
  • Current Carrier's market share is in the 50th percentile at 1.1% of the market.
Average

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier Premium
2022

2021

2020

2019

2018

2017

2016

2015

2014

2014
12-09-2013

Contacts

Nhgjce Bjjatn
President
(137) 981-2339
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Industry Classification


OSHA