Insurance Xdate > Reports > IL > Ingredion Inc
Commercial Insurance Overview
Ingredion Inc is based in Cook county in Illinois. They operate in the Manufacturing industry, specifically in Wet Corn Milling, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
They have been with the same worker's comp carrier for the last 4 years. We see commercial coverage for them in 24 states including Alabama, California, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Maine, Minnesota, Missouri, Montana, North Carolina, Nebraska, New Hampshire, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.008. An LCM of 1.008 is pretty good. More details on how it compares can be seen below. Their LCM has decreased -69% which is a good sign. They either shifted to a better carrier tier, or were placed with a better carrier.
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 37%. 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 Ingredion Inc. This can give you an idea of what carriers might best fit your business.
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$3.85$0.75
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| $1.50 32117 Businesses 2242 | ||
| $2.20 25207 Businesses 6534 | ||
| $1.91 87% 22158 Businesses 2305 | ||
| $1.32 14924 Businesses 1409 | ||
| $1.85 13877 Businesses 1630 | ||
| $2.09 5438 Businesses 624 | ||
| $3.03 5406 Businesses 336 | ||
| $2.06 2% 5380 Businesses 375 | ||
| $1.65 5258 Businesses 382 | ||
| $1.56 25% 4667 Businesses 343 |
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Calculate Premium EstimatesEnter 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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