Universal Concrete Products Corp is based in Montgomery county in Pennsylvania. They operate in the Manufacturing industry, specifically in Bridge Tunnel and Elevated Highway, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
It looks like they just changed commercial insurance carriers. We see commercial coverage for them in 2 states including Maryland, Pennsylvania.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.630. A 1.630 LCM overall is a bit high, but check the market comparison below for more details. Their LCM has decreased -12% which is a good sign. They either shifted to a better carrier tier, or were placed with a better carrier.
An Experience Mod (MOD) is a rate applied to the business. It represents how risky the business is based on past claims. This business has a MOD of... You'll need to join... Which is a little high, but really depends on the type of business.
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Universal Concrete Products Corp. This can give you an idea of what carriers might best fit your business.
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
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.
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.
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.
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains: Policy Renewal DateCurrent CarrierPolicy NumberClass CodeSIC CodeEx MODLCMMultiple LocationsMulti StateCarrier TenureRevenueEmployeesContact EmailContact PhoneWebsiteOSHABenefitsLoss CostFEINCoverage History
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
We will utilize our unique insights into the business insurance market to find up to three appropriate carriers and agents, and will put them in contact with you to provide a quote.
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