Insurance Xdate > Reports > PA > Comptec, Inc
Commercial Insurance Overview
Comptec, Inc is based in Westmoreland county in Pennsylvania. They operate in the Manufacturing industry, specifically in Structural Wood Members Nec, 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 3 years. We see commercial coverage for them in 2 states including Illinois, Pennsylvania.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.780. A 1.780 LCM overall is a bit high, but check the market comparison below for more details.
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 Comptec, Inc. This can give you an idea of what carriers might best fit your business.
$4.58$1.86
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$2.76 7 Businesses 2 | ||
$3.20 19% 6 Businesses | ||
$3.40 26% 5 Businesses 1 | ||
$3.28 13% 3 Businesses 1 | ||
$3.94 2 Businesses | ||
$3.33 27% 2 Businesses | ||
$3.07 2 Businesses | ||
$2.51 17% 2 Businesses 1 | ||
$3.53 2 Businesses | ||
$3.28 2 Businesses |
Market Comparison for Comptec, Inc
Experience Mod Rating
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 64th percentile.
- Mod increased by more than 75% of peers.
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 in-line with peers, in the 45th percentile.
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.
- 33% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
- Of the 33% of peers who changed carriers, This might indicate carriers are competing aggresively for similar businesses to cover.
- Current Carrier's market share is in the 1st percentile at 5.6% of the market.
Business Owners
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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