Michael Peirce

PO Box 5196
Conneaut Lake, PA 16316

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

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 59% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCM Increased by more than 75% of peers.
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.

  • 11% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 3.3% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.975
2021

1.881
2020

1.710
2020
09-14-2020

1.830
2019

1.870
2018

1.870
2017

1.800
2016

1.800
2015

1.730
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

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President
(166) 159-5855
8848

Industry Classification