LARRY CHAPMAN

3524 N 6TH ST
ABILENE, TX 79603

Talking Points

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 in-line with peers, in the 26th percentile.
  • 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 98% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCM Decreased 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.

  • 8% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 3% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

3.196
2022

3.223
2021

3.223
2020
10-20-2019

0.000
2019

0.000
2018

-
2017

-
2016

-
2015

-

Contacts

Umben Bgxtsrq
Owner
(293) 630-8503
kepusdhs@wjzawvbyfmpy.isd

Industry Classification