Insurance Xdate > Reports > KY > Lss Life Safety Services Dba
Commercial Insurance Overview
Lss Life Safety Services Dba is based in Jefferson county in Kentucky. They operate in the Finance/Ins/RE industry, specifically in Business Services Nec, 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 19 states including Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Missouri, North Carolina, Nevada, Ohio, South Carolina, Tennessee, Texas, Virginia.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 3.178. A 3.178 LCM overall is a bit high, but check the market comparison below for more details. Their LCM has decreased -5% which is a good sign. They either shifted to a better carrier tier, or were placed with a better carrier.
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
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Lss Life Safety Services Dba. This can give you an idea of what carriers might best fit your business.
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Erie Ins Grp Pol Rate: 1.50 Med. LCM: 1.50 | $1.50 32117 Businesses 2242 | |
Berkshire Hathaway Grp Pol Rate: 2.20 Med. LCM: 2.20 | $2.20 25207 Businesses 6534 | |
Hartford Fire & Cas Grp Pol Rate: 1.91 Med. LCM: 1.91 | $1.91 87% 22158 Businesses 2305 | |
Travelers Grp Pol Rate: 1.32 Med. LCM: 1.32 | $1.32 14924 Businesses 1409 | |
Amtrust Ngh Grp Pol Rate: 1.85 Med. LCM: 1.85 | $1.85 13877 Businesses 1630 | |
State Farm Grp Pol Rate: 2.09 Med. LCM: 2.09 | $2.09 5438 Businesses 624 | |
Selective Ins Grp Pol Rate: 3.03 Med. LCM: 3.03 | $3.03 5406 Businesses 336 | |
Markel Corp Grp Pol Rate: 2.06 Med. LCM: 2.06 | $2.06 2% 5380 Businesses 375 | |
Proassurance Corp Grp Pol Rate: 1.65 Med. LCM: 1.65 | $1.65 5258 Businesses 382 | |
Liberty Mut Grp Pol Rate: 1.56 Med. LCM: 1.56 | $1.56 25% 4667 Businesses 343 | |
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Calculate Premium Estimates
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
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Market Comparison for Lss Life Safety Services Dba
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is high. It is in the 83rd percentile compared to peers.
- Mod increased by more than 75% of peers.
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 88% of peers.
- Shopping around for a carrier that would provide a more competitive tier would make sense.
- In the last year, LCM Decreased by 5%. While peers Increased an average of 3%.
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.
- 10% of peers have changed carriers since last year.
- Of those who changed carriers, 0.7% decreased their LCM vs those who stayed with their current provider who saw a 3.7% increase.
- Current Carrier's market share is in the 75th percentile at 3% of the market.