Summit Hardwoods Inc

9697 Perry Highway
Waterford, PA 16441

Talking Points

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 9th percentile compared to peers.
  • In the last year, LCM Increased by 5%. While peers Increased an average of 0%.
Average

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.

  • 12% of peers have changed carriers since last year.
  • Of those who changed carriers, 4.7% decreased their LCM vs those who stayed with their current provider who saw a 0.7% increase, a difference of roughly 7x.
  • Current Carrier's market share is in the 99th percentile at 21.6% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.279
2021

1.218
2020

1.183
2019

1.183
2018

1.226
2017

1.290
2016

1.259
2015

1.259
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

Rtxelc Pbxmxw
Chief Executive Officer
(031) 587-8134
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Industry Classification