MONTANA CONDOMINIUM HOA

3265 N FORT APACHE RD, STE 160
LAS VEGAS, NV 89129

Talking Points

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 38th percentile.
Good

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 68% 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 4%.
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.
  • Current Carrier's market share is in the 99th percentile at 51.7% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.425
2022

1.330
2021

1.330
2020

1.330
2019

1.330
2018

1.330
2017

1.330
2016

1.425
2015

1.425
2014

1.606
2013

1.606
2012

1.683
2012
05-15-2011

1.365

Contacts

c
(898) 853-8150
3873

Industry Classification