LC ELECTRIC LLC

4133 WAGON TRAIL AVE
LAS VEGAS, NV 89118

Talking Points

For the Agent

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

  • Premium decreased after the policy was bound. Did payroll drop, or a last minute credit?
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 83% 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 21st 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.

  • 19% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 3.4% 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
2023

1.270
(Current: 1.413)
2022

1.270
2021

1.142
2021

1.337
2020

1.142
2020

1.337
2020

1.337
2019

1.337
2019

1.142
2019

1.337
2018

1.000
2017

2.071
2016

2.071
2015

2.071
2014
01-01-2014

1.280
2013
01-01-2013

1.500
2012

1.500

Contacts

a2
(189) 566-4180
sedqyg@ewgezmjy.dzb

Industry Classification


OSHA