Digital Monitoring Products, Inc.

2500 N Partnership Blvd
Springfield, MO 65803


Commercial Insurance Overview

Digital Monitoring Products, Inc. is based in Greene county in Missouri. They operate in the Manufacturing industry, specifically in Electronic Components Nec, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

Having been with the same worker's comp carrier for 6 years, it may be wise to shop around. We see commercial coverage for them in 16 states including Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Minnesota, Missouri, North Carolina, Nevada, New York, Oklahoma, Pennsylvania, Tennessee, Texas, Virginia.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.179. An LCM of 1.179 is pretty good. More details on how it compares can be seen below.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Digital Monitoring Products, Inc.. This can give you an idea of what carriers might best fit your business.

$3.85$0.75
Erie Ins Grp
$1.50
$1.04$2.30
Berkshire Hathaway Grp
$2.20
$1.20$2.08
Hartford Fire & Cas Grp
$1.91
$0.83$3.56
Travelers Grp
$1.32
$0.85$3.85
Amtrust Ngh Grp
$1.85
$1.00$2.30
State Farm Grp
$2.09
$1.14$2.10
Selective Ins Grp
$3.03
$1.10$3.43
Markel Corp Grp
$2.06
$1.40$2.39
Proassurance Corp Grp
$1.65
$1.00$1.73
Liberty Mut Grp
$1.56
$0.75$3.20

Market Comparison for Digital Monitoring Products, Inc.

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 21st percentile compared to peers.
  • In the last year, LCM Decreased by 0%. 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.

  • 21% of peers have changed carriers since last year.
  • Of those who changed carriers, 3% decreased their LCM vs those who stayed with their current provider who saw a 1.2% increase, a difference of roughly 2x.
  • Current Carrier's market share is in the 1st percentile at 1.7% of the market.
Needs Attention

Business Owners

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Current Carrier
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SIC Code
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LCM
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Multi State
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  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis

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