HAI SERVICES INC

PO BOX 14125
HALTOM CITY, TX 76117

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.
  • Premium decreased after the policy was bound. Did payroll drop, or a last minute credit?
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 97% of peers.
  • In the last year, premium Increased by more than 75% of peers.
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 Very Good, in the 6th percentile compared to peers.
  • LCM Decreased by more than 75% of peers.
Good

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.

  • 9% of peers have changed carriers since last year. Those who did, saw a 8.3% decrease in premium vs those who stayed with their current provider had a 1.4% increase, roughly 6x those who stayed with their current provider.
  • Of those who changed carriers, 0% increased their LCM vs those who stayed with their current provider who saw a 1.2% increase.
  • Current Carrier's market share is in the 75th percentile at 1.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.320
2023

-
2023

1.092
2022

1.700
2022

-
2022

1.600
2021

1.700
2021

-
2021

1.600
2020

1.250
2020

-
2019

1.250
2019

-
2018

1.250
2017
10-24-2016

1.450
2016

-
2015

-

Contacts

fb7
(042) 199-0862
586

Industry Classification