Insurance Xdate > Reports > KY > Chase Environmental Group Inc


Commercial Insurance Overview

Chase Environmental Group Inc is based in Jefferson county in Kentucky. They operate in the Transportation/Utilities industry, specifically in Installing Building Equipment, 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 see commercial coverage for them in 9 states including Connecticut, Illinois, Indiana, Kentucky, Maryland, Ohio, South Carolina, Tennessee, Texas.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.592. A 1.592 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by INF% which is a significant shift. It is worth investigating why.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Chase Environmental Group 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 Chase Environmental Group 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.
Needs Attention

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 23rd percentile compared to peers.
  • In the last year, LCM Increased by INF%. While peers Increased an average of 2%.
Average

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.

  • 11% of peers have changed carriers since last year.
  • Of those who changed carriers, 5.6% decreased their LCM vs those who stayed with their current provider who saw a 2.7% increase, a difference of roughly 2x.
  • Current Carrier's market share is in the 99th percentile at 10.8% of the market.
Needs Attention

Business Owners

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SIC Code
NAICS Code
LCM
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Carrier Tenure
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Loss Cost
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Carriers & Underwriters

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