Insurance Xdate > Reports > GA > Devgiri Exports Llc


Commercial Insurance Overview

Devgiri Exports Llc is based in Fulton county in Georgia. They operate in the Retail industry, specifically in Electrical Appliances Television and Radio, 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 6 years, it may be wise to shop around. We see commercial coverage for them in 3 states including Florida, Georgia, New York.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 2.260. A 2.260 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 INF% which is not good. It is worth investigating why, and taking action to mitigate risks

We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has increased by 56%. Relevant questions to ask are has payroll increased or have claims increased?

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Devgiri Exports Llc. 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 Devgiri Exports Llc

For the Agent

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.
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 Higher than 95% of peers.
  • In the last year, premium Increased by 56%. While peers Increased an average of 1%.
Needs Attention

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 62nd percentile.
  • There was a recent mod increase.
Needs Attention

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 Higher than 74% of peers.
  • Shopping around for a carrier that would provide a more competitive tier would make sense.
  • In the last year, LCM Increased by 3%. While peers Increased an average of 4%.
Needs Attention

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.

  • 12% of peers have changed carriers since last year. Those who did, saw a 13.5% decrease in premium vs those who stayed with their current provider had a 1.2% increase, roughly 11x those who stayed with their current provider.
  • Of those who changed carriers, 3.7% decreased their LCM vs those who stayed with their current provider who saw a 4.7% increase.
  • Current Carrier's market share is in the 95th percentile at 3.5% of the market.
Needs Attention

Business Owners

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Agents

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Policy Renewal Date
Current Agent
Current Carrier
Policy Number
Class Code
SIC Code
NAICS Code
Premium
Ex MOD
LCM
Multiple Locations
Multi State
Carrier Tenure
Revenue
Employees
Contact Email
Contact Phone
Linkedin
Website
Benefits
Loss Cost
FEIN
Coverage History


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Carriers & Underwriters

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