LAKE CLIFF TOWER CONDOMINIUM ASSN

329 E COLORADO BLVD
DALLAS, TX 75203

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • Premium increased after the policy was bound. Did payroll jump for some reason or was a credit removed?
Needs Attention

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Higher than 85% of peers.
  • In the last year, premium Increased by 8%. While peers Increased an average of 2%.
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 Very Good, in the 0th percentile compared to peers.
Good

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.

  • 9% of peers have changed carriers since last year. Those who did, saw a 3.8% decrease in premium vs those who stayed with their current provider had a 3.2% increase.
  • Current Carrier's market share is in the 95th percentile at 6.2% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2022
11-20-2021

1.000
(Current: 1.300)
2021

1.000
2020

1.000
2019

1.000
2018

1.000
2017

1.000
2016

1.000
2015

1.000

Contacts

3f
(711) 103-4984
1597

Industry Classification