Tricor Industries Inc.

PO Box 978
Norristown, PA 19404

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.
Needs Attention

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is in-line with peers, in the 44th percentile.
  • There was a recent mod increase.
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 71% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 13%. While peers Increased an average of 4%.
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.

  • 7% of peers have changed carriers since last year.
  • Of those who changed carriers, 7.5% decreased their LCM vs those who stayed with their current provider who saw a 4.7% increase.
  • Current Carrier's market share is in the 99th percentile at 29.1% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

2.518
(Current: 2.809)
2021

2.235
2020

1.923
2019

1.782
2018

1.782
2017

1.631
2017
12-31-2016

2.500
2016

2.300
2015

2.000
2014

-
2013

-
2012
12-31-2011

-
2011

-
2011
03-01-2010

-
2010

-
2010

-
2010
01-01-2009

-
2009

-
2009
01-01-2008

-

Contacts

Opyofm Bpsvajh
President
(033) 355-0265
4755

d67
39
Tumpfql@GdmdagFbdkdyahmu.rdr

Industry Classification