Commercial Insurance Overview
02ys Corp is based in Carroll county in Georgia. They operate in the Manufacturing industry, specifically in Phosphatic Fertilizers, which is a low risk industry. The business is in the Assigned Risk pool, which means they are (or were) a high risk business. 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 6 years, it may be wise to shop around. We see commercial coverage for them in 3 states including Alabama, Georgia, Idaho.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 0.975. An LCM of 0.975 is pretty good. More details on how it compares can be seen below.
We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has increased by 14%. Relevant questions to ask are has payroll increased or have claims increased?
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to 02ys Corp. This can give you an idea of what carriers might best fit your business.
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Erie Ins Grp
Pol Rate: 1.50 Med. LCM: 1.50 | $1.50
32117 Businesses 2242 | |
Berkshire Hathaway Grp
Pol Rate: 2.20 Med. LCM: 2.20 | $2.20
25207 Businesses 6534 | |
Hartford Fire & Cas Grp
Pol Rate: 1.91 Med. LCM: 1.91 | $1.91 87%
22158 Businesses 2305 | |
Travelers Grp
Pol Rate: 1.32 Med. LCM: 1.32 | $1.32
14924 Businesses 1409 | |
Amtrust Ngh Grp
Pol Rate: 1.85 Med. LCM: 1.85 | $1.85
13877 Businesses 1630 | |
State Farm Grp
Pol Rate: 2.09 Med. LCM: 2.09 | $2.09
5438 Businesses 624 | |
Selective Ins Grp
Pol Rate: 3.03 Med. LCM: 3.03 | $3.03
5406 Businesses 336 | |
Markel Corp Grp
Pol Rate: 2.06 Med. LCM: 2.06 | $2.06 2%
5380 Businesses 375 | |
Proassurance Corp Grp
Pol Rate: 1.65 Med. LCM: 1.65 | $1.65
5258 Businesses 382 | |
Liberty Mut Grp
Pol Rate: 1.56 Med. LCM: 1.56 | $1.56 25%
4667 Businesses 343 | |
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Total Payroll:
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Calculate Premium Estimates
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
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Market Comparison for 02ys Corp
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 Very Good, in the 0th percentile compared to peers.
- In the last year, premium Increased by 14%. While peers Increased an average of 32%.
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 0th 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.
- 17% of peers have changed carriers since last year. Those who did, saw a 51% decrease in premium vs those who stayed with their current provider had a 26.8% decrease.
- Current Carrier's market share is in the 1st percentile at 8.3% of the market.
Business Owners
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Agents
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains:
Policy Renewal Date
Current Agent
Current Carrier
Policy Number
Class Code
SIC Code
NAICS Code
Premium
LCM
Multiple Locations
Multi State
Assigned Risk
Carrier Tenure
Revenue
Employees
Contact Phone
Benefits
Loss Cost
FEIN
Coverage History
Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
- Competitive Account Won/Loss
- Competitive Class distribution
- Appetite Analysis
- Market Share Analysis
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