STYLE PASIFIKA INTERNATIONAL

6320 MCLEOD DR, STE 7
LAS VEGAS, NV 89120

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
  • Premium increased after the policy was bound. Did payroll jump for some reason or was a credit removed?
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 75% of peers.
  • In the last year, premium Decreased by 33%. While peers Increased an average of 10%.
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 100% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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.

  • 22% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 55.6% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.730
(Current: 2.088)
2021

1.730
2021
11-01-2020

1.730
2020

1.498
2019

1.498
2018

1.498
2017

1.254
2016

1.254
2016
05-01-2015

2.000
2015

1.733
2014

1.733
2014
05-01-2013

1.526
2013

1.526
2012

1.526

Contacts

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(090) 264-4008
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Industry Classification