BRUCE BEN

26376 VALLEY LAKE DR
WRIGHT CITY, MO 63390

Talking Points

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 60% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 0%. 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.

  • 16% of peers have changed carriers since last year.
  • Of those who changed carriers, 2.5% increased their LCM vs those who stayed with their current provider who saw a 2.6% increase.
  • Current Carrier's market share is in the 75th percentile at 4.6% of the market.
Average

Business Stats

Policy History

Term Carrier LCM
2024

1.652
2023

1.650
2022
08-12-2022

1.680
2021
05-08-2021

1.510
2020
10-24-2019

1.510
2019
08-12-2018

1.810
2019
07-14-2019

1.510
2018

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Contacts

Industry Classification