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

• Premium decrease and carrier tier change may indicate competitive situation and incumbent prevailed.

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 in-line with peers, in the 50th percentile.
• In the last year, premium Decreased by 8%. While peers Increased an average of 10%.

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. Those who did, saw a 8.6% decrease in premium vs those who stayed with their current provider had a 12% increase.
• Current Carrier's market share is in the 99th percentile at 18.3% of the market.