DRY UTILITY SYSTEMS TRENCHING

2881 S VALLEY VIEW BLVD, STE 8
LAS VEGAS, NV 89102

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 Higher than 81% 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 in-line with peers, in the 54th percentile.
  • LCM Increased by more than 75% of peers.
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.

  • 19% of peers have changed carriers since last year.
  • Of those who changed carriers, 0.7% decreased their LCM vs those who stayed with their current provider who saw a 0.8% increase.
  • Current Carrier's market share is in the 75th percentile at 3.4% of the market.
Average

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.450
2022

1.370
2022

1.450
2021

1.105
2021

1.370
2021
05-30-2020

1.400
2021
12-12-2020

1.040
2020

1.400
2020

1.000
2020

1.337
2019

1.337
2019
05-30-2019

1.385
2018

1.385
2017

1.385
2016

1.385
2015

1.500
2014

1.500
2013

1.500
2012

1.500

Contacts

Rwlary Kwielwc
Domain Registrant
(301) 074-0595
nugkvpyx@MCJ.QKY

Industry Classification