TAB CONTRACTORS INC

6600 AMELIA EARHART CT, STE B
LAS VEGAS, NV 89119

Talking Points

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
  • An osha violation that is followed by a premium increase may indicate a WC claim has occurred.
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 Higher than 92% of peers.
  • In the last year, premium Increased by more than 75% of peers.
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 Very Good, in the 9th percentile compared to peers.
Good

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.

  • 14% of peers have changed carriers since last year. Those who did, saw a 4.1% increase in premium vs those who stayed with their current provider had a 4.9% increase.
  • Current Carrier's market share is in the 75th percentile at 1.7% of the market.
Average

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.040
(Current: 1.000)
2022

1.370
2021

1.040
2021

1.370
2021

1.337
2021

1.450
2021
03-04-2020

1.651
2020

1.000
2020

1.337
2020

1.450
2020

1.337
2019

1.337
2019

1.450
2018

1.450
2017
01-01-2017

1.450
2015
12-31-2015

1.370

Contacts

39
(344) 249-8203
9b5

Industry Classification


OSHA