ANTONIO MADRIGAL

205 SUMMERS ST
WILMER, TX 75172

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 71st percentile.
  • In the last year, premium Decreased by 3%. While peers Increased an average of 2%.
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 83% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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. Those who did, saw a 24.4% decrease in premium vs those who stayed with their current provider had a 0% decrease, roughly 509x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 70.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.693
2023

1.750
2023

1.048
2023

1.707
2023

1.707
2022

1.693
2022

1.585
2022

1.048
2022

1.490
2022

1.407
2022

1.407
2022

1.196
2022

1.196
2022

1.707
2022

1.858
2021

1.693
2021

1.751
2021

1.490
2021

1.490
2021

1.490
2021

1.196
2021

1.196
2021

1.707
2021

1.707
2021
09-30-2021

1.407
2020

1.490
2020

1.751
2020

1.490
2020

1.707
2020

1.707
2020

1.707
2020

1.858
2020
11-27-2019

1.490
2019

1.520
2019

1.152
2019
04-01-2019

1.520

Contacts

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(975) 959-8276
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Industry Classification