NORTH AMERICAN TRADE CORP

18948 FREEPORT DR
MONTGOMERY, TX 77356

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 33rd percentile.
  • In the last year, premium Decreased by more than 75% of peers.
Average

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 60% 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.

  • 23% of peers have changed carriers since last year. Those who did, saw a 32.9% decrease in premium vs those who stayed with their current provider had a 0.4% increase, roughly 80x those who stayed with their current provider.
  • Of those who changed carriers, 13.9% decreased their LCM vs those who stayed with their current provider who saw a 2.2% increase, a difference of roughly 6x.
  • Current Carrier's market share is in the 99th percentile at 35.8% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.693
2021
09-02-2020

1.943
2020

1.943
2019

1.842
2018

1.771
2017

1.771

Contacts

NGDWL SHYOREEZ SOLRB FPET.
Benefits Admin
(126) 697-6069
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Uslvz Pllfqax
President & Chief Executive Offi
(327) 364-9493
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NZETW ZODRWGF
President
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CpdjyA@ogresaacfc.hvu

Industry Classification

Motor Carrier