WES TILE INC

4805 N NOTTINGHAM AVE
CHICAGO, IL 60656

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 28th 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 28th percentile compared to peers.
  • In the last year, LCM Decreased by 8%. While peers Increased an average of 3%.
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.

  • 13% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 3.5% of the market.
Average

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.357
(Current: 1.270)
2021

1.470
2020

-
2020
11-19-2019

-
2019

-
2018
AR
-
2017
AR
-
2017
07-22-2017
AR
-

Contacts

KIFPLFN CEDDAQBJEU
President
(650) 110-3856
44

Industry Classification