Insurance Xdate > Reports > CT > Technology Consultants Inc


Commercial Insurance Overview

Technology Consultants Inc is based in Hartford county in Connecticut. They operate in the Services industry, specifically in Custom Computer Programming Services, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

Having been with the same worker's comp carrier for 11 years, it may be wise to shop around. We see commercial coverage for them in 15 states including Connecticut, Florida, Georgia, Illinois, Kentucky, Maryland, Minnesota, Missouri, North Carolina, New Mexico, New York, Tennessee, Texas, Virginia, Michigan.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 0.924. An LCM of 0.924 is pretty good. More details on how it compares can be seen below.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Technology Consultants Inc. This can give you an idea of what carriers might best fit your business.

$3.85$0.75
Erie Ins Grp
$1.50
$1.04$2.30
Berkshire Hathaway Grp
$2.20
$1.20$2.08
Hartford Fire & Cas Grp
$1.91
$0.83$3.56
Travelers Grp
$1.32
$0.85$3.85
Amtrust Ngh Grp
$1.85
$1.00$2.30
State Farm Grp
$2.09
$1.14$2.10
Selective Ins Grp
$3.03
$1.10$3.43
Markel Corp Grp
$2.06
$1.40$2.39
Proassurance Corp Grp
$1.65
$1.00$1.73
Liberty Mut Grp
$1.56
$0.75$3.20

Market Comparison for Technology Consultants Inc

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 18th percentile compared to peers.
  • In the last year, LCM Decreased by 2%. While peers Increased an average of 16%.
Good

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.

  • 4% of peers have changed carriers since last year.
  • Of those who changed carriers, 8% decreased their LCM vs those who stayed with their current provider who saw a 17.4% increase.
  • Current Carrier's market share is in the 95th percentile at 14.2% of the market.
Good

Business Owners

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Carriers & Underwriters

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  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis