3855 WARREN WAY LLC

3855 WARREN WAY
RENO, NV 89509

Talking Points

For the Agent

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

  • Premium increase and carrier group change may indicate a claim occurrence.
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 64th percentile.
  • In the last year, premium Increased by 3%. While peers Increased an average of 4%.
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 97% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 3%. 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.

  • 3% of peers have changed carriers since last year. Those who did, saw a 55.5% decrease in premium vs those who stayed with their current provider had a 1.4% decrease, roughly 39x those who stayed with their current provider.
  • Of those who changed carriers, 3.5% decreased their LCM vs those who stayed with their current provider who saw a 2.2% decrease.
  • Current Carrier's market share is in the 99th percentile at 58.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.221
2023
08-11-2022
AR
1.000
2022

2.150
2022
05-14-2022
AR
1.000
2021
AR
1.000
2021

2.346
2020

2.346
2020
05-14-2020
AR
1.000
2019

1.173
2019
05-14-2019
AR
1.096
2018

1.340
2018

1.173
2017

2.060
2017

1.340
2017
07-22-2016

2.060
2016

1.625
2016

1.340
2015

1.625
2015

1.340
2014

1.625
2014

1.340
2013

1.625
2013

1.340
2012

2.031

Contacts

4c
(527) 449-2899
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9ee
(509) 327-6267
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Industry Classification