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

• An osha violation that is followed by a premium increase may indicate a WC claim has occurred.
• 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.
• Premium increase and carrier group change may indicate a claim occurrence.

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 100% of peers.
• In the last year, premium Increased by 10%. While peers Increased an average of 22%.

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

• Experience Mod is high. It is in the 100th percentile compared to peers.
• Mod increased by more than 75% of peers.

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 2nd percentile compared to peers.

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.

• 7% of peers have changed carriers since last year. Those who did, saw a 17.8% increase in premium vs those who stayed with their current provider had a 22.5% increase.
• Current Carrier's market share is in the 1st percentile at 1.4% of the market.

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

• Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.