B P Paterson Inc

537 Kingwood Rd
King of Prussia, PA 19406

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 63rd percentile.
  • There was a recent mod decrease.
Average

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 64% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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 95th percentile at 8.3% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

2.026
(Current: 2.084)
2021

2.026
2020

1.875
2019
10-21-2019

2.981
2018

2.981
2017

2.868
2016

2.868
2015

2.724
2014
10-21-2014

-
2013

-
2012
10-21-2012

-
2011

-
2010

-
2009

-

Contacts

Iti Ibmivexg
Principal
(201) 162-2191
1061

Industry Classification

Motor Carrier