Insurance Xdate > Reports > VA > Dexter Systems Inc


Commercial Insurance Overview

Dexter Systems Inc is based in Loudoun county in Virginia. They operate in the Services industry, specifically in Computer Related Services Nec, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

Having been with the same worker's comp carrier for 11 years, it may be wise to shop around. We see commercial coverage for them in 4 states including Maryland, Minnesota, Pennsylvania, Virginia.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 2.080. A 2.080 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 44% which is a significant shift. It is worth investigating why.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Dexter Systems 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 Dexter Systems Inc

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 95% of peers.
  • Shopping around for a carrier that would provide a more competitive tier would make sense.
  • In the last year, LCM Increased by 44%. While peers Increased an average of 3%.
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.

  • 7% of peers have changed carriers since last year.
  • Of those who changed carriers, 0.7% increased their LCM vs those who stayed with their current provider who saw a 3.7% increase.
  • Current Carrier's market share is in the 99th percentile at 25.4% of the market.
Good

Business Owners

  1. We don't sell insurance. Our market intelligence allows us to find the ideal commercial insurance partner.
  2. Try our 100% free premium estimate tool to compare coverage options.
  3. Get a Quote from a real agent, guided by our market insights.

Premium Estimate

Agents

Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains:

Policy Renewal Date
Current Carrier
Policy Number
Class Code
SIC Code
NAICS Code
LCM
Multiple Locations
Multi State
Carrier Tenure
Contact Phone
Website
Loss Cost
FEIN
Coverage History


Free Trial

Carriers & Underwriters

Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:

  • Competitive Account Won/Loss
  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis