LCMs – Loss Cost Multipliers – An Important Example LCMs (Loss Cost Multipliers) have many definitions. The main one that I refer to when asked for a definition is: LCMs are basically the insurance carrier’s deviation from the advisory loss costs that are published by NCCI or your state’s rating bureau.
Loss Cost Multipliers Examples Last week, an article was published on this blog in reference to Loss Cost Multipliers. The article received a large amount of traffic. A few questions were emailed to me on how Loss Cost Multipliers generate what a carrier actually charges for Workers Comp premiums.
Rate Reductions Rate reductions news published by a state rating bureau or NCCI is always a very positive statement in an industry led by negativity. The rate reduction news is then re-published over and over again by various Workers Comp outlets. There is still one piece of the puzzle that
Economy Drives Work Comp Success – WCRI A great presentation on how the Economy Drives the financial performance of WC. .Dr. Harry Shuford from NCCI – One of the best presentations so far at this conference. This was great data analyses. He should have been given longer than 30
WC Premium Increases Source Not Rating Bureaus The secret to WC premium increases has to do with investment risk. The questions that I am asked the most in my line of work are twofold: Do you know of a good stock to invest in – a hot stock tip as
The Loss Cost Multipliers Have An Indirect Effect I recently posted on Loss Cost Multipliers that affect your premium audit. I have received so many inquiries to my last post on the subject that I thought I would cover the subject again. This is an emailed question I received last
Who Is The WCIRB ? What do they regulate and who is the WCIRB ? I received this question on the WCIRB last night from a California employer that had grown large enough to receive an X-Mod. Congratulations on your company’s growth in a tough economy. Sometimes, it is best
The Real Deal – Loss Cost Multipliers Definition The Loss Cost Multipliers definition (LCM‘s) is one of those “under the radar” concepts in Workers Comp. I had decided to comment on LCM’s as they are very important to your Workers Comp budget. The LCM allows the insurance carriers to charge
