FUEL QUALITY SOLUTIONS LLC

PO BOX 1867
CLEVELAND, GA 30528

Talking Points

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
  • 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 in-line with peers, in the 44th 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 92% 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.

  • 5% of peers have changed carriers since last year. Those who did, saw a 51.3% decrease in premium vs those who stayed with their current provider had a 2.7% increase, roughly 19x those who stayed with their current provider.
  • Of those who changed carriers, 10.1% decreased their LCM vs those who stayed with their current provider who saw a 4.8% increase, a difference of roughly 2x.
  • Current Carrier's market share is in the 1st percentile at 1.3% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.810
2022
04-12-2022

3.350
2021

2.780
2021

1.810
2020

2.780
2020
01-09-2020

1.910
2019

2.384
2019

1.200
2019

1.200
2019

1.910
2018

2.384
2018

1.200
2017

2.384
2016

-
2015

-
2014
12-16-2013

-

Contacts

9
(700) 739-9737
c582

6
(913) 147-3077
95016

9
(940) 714-7156
43168

Industry Classification

Motor Carrier