CRAIG WERNER

1910 E SOUTHEAST LOOP 32, # 312
TYLER, TX 75701

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

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 Very Good, in the 9th percentile compared to peers.
  • In the last year, premium Decreased by more than 75% of peers.
Good

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 88% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCM Increased by more than 75% of peers.
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.

  • 2% of peers have changed carriers since last year. Those who did, saw a 31.3% decrease in premium vs those who stayed with their current provider had a 2.3% increase, roughly 14x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 28.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

2.289
2021

2.203
2020

2.203
2019

2.203
2018

2.390
2017

2.390
2016

-
2015

-

Contacts

Xelwb Qwohya
President
(223) 356-6701
r.kucksf@eitnwguyetxacdzozgs.egf

Industry Classification