LARIDIAN CONSULTING INC

577 HAMBURG TURNPIKE
WAYNE, NJ 07470

Talking Points

For the Agent

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

  • Premium increased after the policy was bound. Did payroll jump for some reason or was a credit removed?
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 61st percentile.
  • In the last year, premium Decreased by 11%. While peers Increased an average of 6%.
Average

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is very good. It is in the 14th percentile compared to peers.
  • There was a recent mod increase.
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.

  • 10% of peers have changed carriers since last year. Those who did, saw a 34.5% decrease in premium vs those who stayed with their current provider had a 5.3% decrease, roughly 6x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 13.6% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier Premium
2023
AR
2023

2022
AR
2022

2021
AR
2021

2020
AR
2020
AR
2019

2019

2018

2017

2016

2015

2014

2013

Contacts

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(334) 848-3749
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(419) 103-7031
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Industry Classification