SPORTSFAMLEE LLC

PO BOX 72995
LAS VEGAS, NV 89170

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 46th percentile.
  • In the last year, premium Decreased by 52%. While peers Increased an average of 8%.
Average

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 12th percentile compared to peers.
  • In the last year, LCM Decreased by 31%. While peers Increased an average of 1%.
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.

  • 8% of peers have changed carriers since last year.
  • Of those who changed carriers, 6.2% decreased their LCM vs those who stayed with their current provider who saw a 1.7% increase, a difference of roughly 4x.
  • Current Carrier's market share is in the 99th percentile at 49.7% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.050
2022
11-17-2021

1.520
2021

1.449
2020

1.449
2019

1.449
2018

1.449
2018
06-01-2017

1.467
2017

1.467
2016

1.200
2015

1.000
2014

1.000

Contacts

8
(473) 336-9907
b625

(231) 477-2946
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Industry Classification