TRANQUILO COMMUNITIES LLC

650 N DEARBORN ST STE 850
CHICAGO, IL 60654

Talking Points

For the Agent

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

  • 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 75% of peers.
  • In the last year, premium Increased by 13%. While peers Increased an average of 0%.
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 19th percentile compared to peers.
  • In the last year, LCM Increased by 11%. While peers Increased an average of 3%.
Average

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.

  • 15% of peers have changed carriers since last year. Those who did, saw a 12.3% decrease in premium vs those who stayed with their current provider had a 2.1% increase, roughly 6x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 11.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.650
2023

1.100
2023

1.698
2023

0.724
2023

1.000
2022

1.489
2022

-
2022

1.235
2022

0.730
2022

1.000
2021

1.470
2021

-
2021

1.235
2021

0.840
2020

-
2020

-
2020

0.840
2019
05-15-2019

1.400
2018

1.400

Contacts

Industry Classification