MICHAEL GARVIN DBA INDIAN NATION ENT

10252 MUSTANG RUN
FORNEY, TX 75126

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Needs Attention

Premium

工人的薪酬溢价是基于两个关键因素- 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 39th percentile.
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 isHigherthan 72% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCMIncreasedby 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.

  • 6% of peers have changed carriers since last year. Those who did, saw a 29.3% decrease in premium vs those who stayed with their current provider had a 1.2% increase, roughly 24x those who stayed with their current provider.
  • Of those who changed carriers, 0.5% decreased their LCM vs those who stayed with their current provider who saw a 1.5% increase.
  • Current Carrier's market share is in the 75th percentile at 3.4% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.735
(Current: 1.721)
2021

1.580
2020

1.580
2019

1.500
2018

1.580
2017

1.800
2016

1.950
2015

1.950
2014

-

Contacts

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(839) 743-1898
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Industry Classification