NAIC Carrier Codes are assigned by the National Association of Insurance Commissioners (NAIC). The NAIC is an authoritative source for insurance information. They assign unique codes to each Carrier Group and to each Carrier.
The LCM is a factor that allows the carrier to adjust the standard rate (LC) to account for their own expense provisions. The LCM is specific to the Carrier’s experience and therefore can vary greatly from Carrier to Carrier. All this variance creates a very competitive WC market with exploitable opportunities, with the right tools of course.
Note that in some states a carrier may have ‘sub’ LCM filings for specific Class Codes or have tiered LCM filings (e.g. standard/preferred). Also note that one ‘Carrier’ may have multiple ‘underwriting companies’ - each with their own LCM filing (e.g. Travelers Casualty, Travelers Indemnity and Travelers Property Casualty are all part of Travelers, but each has its own LCM filing). Read more about Loss Cost & LCM and Mod Rating.
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