Insurance Xdate > Reports > VT > Stellar Lasers Llc Quantum Wave


Commercial Insurance Overview

Stellar Lasers Llc Quantum Wave is based in Washington county in Vermont. They operate in the Manufacturing industry, specifically in Electric Lamps, 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 2 states including Arizona, Vermont.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.282. A 1.282 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 8% which is a significant shift. It is worth investigating why.

We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Stellar Lasers Llc Quantum Wave. 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 Stellar Lasers Llc Quantum Wave

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

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 Very Good, in the 10th percentile compared to peers.
  • In the last year, premium Decreased by 3%. While peers Increased an average of 17%.
Good

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 4th percentile compared to peers.
  • In the last year, LCM Increased by 8%. While peers Increased an average of 18%.
Good

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.

  • 14% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 28.6% of the market.
Good

Business Owners

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Carriers & Underwriters

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  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis