Adams Keegan Inc

6703 SRIDGE DR
DALLAS, TX 75214


Commercial Insurance Overview

Adams Keegan Inc is based in Dallas county in Texas. They operate in the Services industry, specifically in Help Supply Services, which is a low risk industry. The business is in a Professional Employer Organization (PEO), which offers coverage to a pool of businesses to manage risk. These are often offered by HR companies. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

The business is in a PEO, often offered by HR and Payroll companies. Having been with the same worker's comp carrier for 8 years, it may be wise to shop around. We see commercial coverage for them in 25 states including Alabama, Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Kentucky, Maryland, Maine, Missouri, Mississippi, North Carolina, Nebraska, New Hampshire, Nevada, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Vermont.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.310. A 1.310 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 10% which is a significant shift. It is worth investigating why.

We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Adams Keegan Inc. This can give you an idea of what carriers might best fit your business.

$3.85$0.75
Erie Ins Grp
$1.50
$1.04$2.30
Berkshire Hathaway Grp
$2.20
$1.20$2.08
Hartford Fire & Cas Grp
$1.91
$0.83$3.56
Travelers Grp
$1.32
$0.85$3.85
Amtrust Ngh Grp
$1.85
$1.00$2.30
State Farm Grp
$2.09
$1.14$2.10
Selective Ins Grp
$3.03
$1.10$3.43
Markel Corp Grp
$2.06
$1.40$2.39
Proassurance Corp Grp
$1.65
$1.00$1.73
Liberty Mut Grp
$1.56
$0.75$3.20

Market Comparison for Adams Keegan Inc

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
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 66th percentile.
Average

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 14th percentile compared to peers.
  • In the last year, LCM Increased by 10%. While peers Increased an average of 3%.
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.

  • 18% of peers have changed carriers since last year.
  • Of those who changed carriers, 9.4% decreased their LCM vs those who stayed with their current provider who saw a 1.2% decrease, a difference of roughly 8x.
  • Current Carrier's market share is in the 95th percentile at 16.3% of the market.
Needs Attention

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 Owners

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Agents

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Carriers & Underwriters

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