STENO AGENCY INC

204 CATTLE RIDGE ROAD
WAXHAW, NC 28173

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 Higher than 87% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 7%. While peers Increased an average of 2%.
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.

  • 6% of peers have changed carriers since last year.
  • Of those who changed carriers, 4.4% decreased their LCM vs those who stayed with their current provider who saw a 2.5% increase.
  • Current Carrier's market share is in the 95th percentile at 5.1% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier Premium LCM
2023
PEO
1.809
2023
PEO
1.050
2022
PEO
-
2022
PEO
2.160
2022
PEO
1.985
2022
PEO
-
2022
PEO
1.450
2022
PEO
1.450
2022
PEO
1.691
2022
PEO
-
2022
PEO
1.660
2022
PEO
-
2022
PEO
1.771
2022
PEO
-
2022
PEO
1.690
2022
PEO
1.659
2022
08-01-2022
PEO
1.450
2021
PEO
1.335
2021
PEO
1.220
2021
PEO
-
2021
PEO
2.059
2021
PEO
-
2021
PEO
1.450
2021
PEO
1.450
2021
PEO
0.864
2021
PEO
0.864
2021
PEO
1.510
2021
PEO
-
2021
PEO
1.690
2021
PEO
1.540
2021
PEO
1.580
2021
PEO
-
2021
01-01-2021
PEO
1.340
2021
01-01-2021
PEO
1.361
2021
12-01-2021
PEO
1.890
2021
12-01-2021
PEO
-
2020
PEO
0.864
2020
PEO
0.864

Contacts

Industry Classification