Insurance Xdate > Reports > GA > Stalwart Plastics Inc


Commercial Insurance Overview

Stalwart Plastics Inc is based in Muscogee county in Georgia. They operate in the Manufacturing industry, specifically in Plastics Mfg Sheets Rods or Tubes, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

It looks like they just changed commercial insurance carriers. We have coverage data for them in a single state.

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 183%. 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 Stalwart Plastics 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 Stalwart Plastics Inc

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
  • Premium increase and carrier group change may indicate a claim occurrence.
Needs Attention

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 is Higher than 79% of peers.
  • In the last year, premium Increased by 183%. While peers Increased an average of 1%.
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.

  • 15% of peers have changed carriers since last year. Those who did, saw a 6.3% decrease in premium vs those who stayed with their current provider had a 2.2% increase, roughly 3x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 19.6% of the market.
Needs Attention

Business Owners

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