PLATINUM KITCHENS & DESIGN INC
5965 SHILOH RD E
ALPHARETTA, GA 30005
Talking Points
For the Agent
These are points that might help guide an agent as they look to approach a prospect.
- Premium increased after the policy was bound. Did payroll jump for some reason or was a credit removed?
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 isHigherthan 94% of peers.
- In the last year, premiumIncreasedby more than 75% of peers.
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 isHigher超过81%的同行。
- Shopping around for a carrier that would provide a more competative tier would make sense.
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.
- 12% of peers have changed carriers since last year.
- Current Carrier's market share is in the 75th percentile at 3.3% of the market.
Business Stats
Policy History
Term | Carrier | Premium | LCM | |
---|---|---|---|---|
2023 |
2.460 | |||
2022 |
2.360 | |||
2021 |
2.360 | |||
2020 |
2.360 | |||
2019 |
2.230 | |||
2018 |
2.230 | |||
2017 |
2.230 | |||
2016 |
- | |||
2015 |
- | |||
2014 |
- |
Contacts
Industry Classification
Contractor--Project Manager, Construction Executive, Construction Manager or Construction Superintendent
Drapery and Upholstery Stores
Construction or Project Manager
91580
Contractors--Executive Supervisors or Executive Superintendents
18437
Stores--No Food or Drink--Other Than Not-For-Profit