TOOLCO INC

PO BOX 613
UNION, MO 63084

Talking Points

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

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 in-line with peers, in the 49th percentile.
  • LCM Increased by more than 75% of peers.
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.

  • 13% of peers have changed carriers since last year.
  • Of those who changed carriers, 11.2% decreased their LCM vs those who stayed with their current provider who saw a 2.1% increase, a difference of roughly 5x.
  • Current Carrier's market share is in the 1st percentile at 0.6% of the market.
Average

Business Stats

Policy History

Term Carrier LCM
2022

1.350
2021

1.220
2020

1.220
2019

1.220
2018

1.220
2018

-

Contacts

Pi Lrlvsomvag
President
(914) 626-7856
hvzal@fkyeor.jyf

Industry Classification