Heims Financial Services Inc

2360 E Allegheny Ave
Philadelphia, PA 19134

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 Higher than 98% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 12%. While peers Increased an average of 0%.
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.

  • 5% of peers have changed carriers since last year.
  • Of those who changed carriers, 45% decreased their LCM vs those who stayed with their current provider who saw a 2% increase, a difference of roughly 23x.
  • Current Carrier's market share is in the 95th percentile at 18.6% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2023

3.569
(Current: 3.716)
2022

3.187
2021

3.187
2020

3.187
2019

3.187
2018

3.187
2017

2.789
2016

2.702
2015
02-25-2015

2.549
2014

-
2013
02-25-2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

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Owner
(138) 912-7183
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Industry Classification