PYROCOM INC

3380 W HACIENDA AVE, STE 107
LAS VEGAS, NV 89118

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 33rd percentile.
  • In the last year, premium Decreased by 86%. While peers Increased an average of 1%.
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 Very Good, in the 28th percentile compared to peers.
  • In the last year, LCM Increased by 32%. While peers Increased an average of 3%.
Average

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 21% decrease in premium vs those who stayed with their current provider had a 4.7% increase, roughly 4x those who stayed with their current provider.
  • Of those who changed carriers, 1.3% increased their LCM vs those who stayed with their current provider who saw a 2.8% increase.
  • Current Carrier's market share is in the 75th percentile at 3.8% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.370
2022
12-01-2022

-
2021

1.040
2021

-
2021

1.337
2021

1.370
2021
12-01-2020

1.500
2021
03-14-2021

-
2020

1.500
2020

1.000
2020

1.337
2019

1.337
2019

1.400
2019
12-01-2018

1.380
2018

1.380
2017

1.380
2017
12-01-2016

1.940
2016

1.530
2015

1.530
2014

1.530
2013

1.530
2012
12-01-2012

1.220

Contacts

Tmualtiv Shui
President
(485) 841-0619
96e4

Industry Classification