Insurance Xdate > Reports > PA > Harley Davidson Inc
Commercial Insurance Overview
Harley Davidson Inc is based in York county in Pennsylvania. They operate in the Manufacturing industry, specifically in Business Services Nec, 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 26 states including Alabama, Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Illinois, Kentucky, Maryland, Maine, Minnesota, Missouri, North Carolina, Nebraska, New Hampshire, Nevada, New York, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, Wisconsin.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.586. A 1.586 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 10% which is a significant shift. It is worth investigating why.
An Experience Mod (MOD) is a rate applied to the business. It represents how risky the business is based on past claims. This business has a MOD of... You'll need to join... Which is an excellent rating no matter the industry, and should be able to shop aggressively. The rating based on their claims (MOD) increased by 15% which is not good. It is worth investigating why, and taking action to mitigate risks
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Harley Davidson Inc. 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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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 Harley Davidson Inc
These are points that might help guide an agent as they look to approach a prospect.
- Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is in-line with peers, in the 56th percentile.
- There was a recent mod increase.
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 31st percentile compared to peers.
- In the last year, LCM Increased by 10%. While peers Increased an average of 3%.
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.
- 14% of peers have changed carriers since last year.
- Of those who changed carriers, 0.4% increased their LCM vs those who stayed with their current provider who saw a 2.8% increase.
- Current Carrier's market share is in the 99th percentile at 17.9% of the market.
Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.
- Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.