NOTARY CLOUD LLC

8915 S PECOS RD, STE 17A
HENDERSON, NV 89074

Talking Points

For the Agent

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

  • Premium increase and carrier group change may indicate a claim occurrence.
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 91% of peers.
  • In the last year, premium Decreased by 4%. While peers Increased an average of 8%.
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 91% 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.

  • 8% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 24.2% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.600
2023

1.680
2023

-
2022

1.600
2022

1.680
2022

-
2021

-
2021

-
2021

-
2020

1.100
2020

1.140
2020

-
2019

1.100
2019

1.140
2019

-
2018

1.100
2018

1.200
2018

-

Contacts

SZWEMGC EDNUGOR
Manager
(245) 156-5057
lewar1379@ihtyh.uzn

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ylktymev@icosbvkqam.yvr

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(470) 304-6144
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(345) 393-4128
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Industry Classification