Insurance Xdate > Reports > NY > Gsp Finance Llc
Commercial Insurance Overview
Gsp Finance Llc is based in Albany county in New York. They operate in the Finance/Ins/RE industry, specifically in Management Investment Open ended, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.
They have been with the same worker's comp carrier for the last 5 years. We have coverage data for them in a single state.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.192. An LCM of 1.192 is pretty good. More details on how it compares can be seen below. Their LCM has decreased -7% 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 31% 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 Gsp Finance Llc. This can give you an idea of what carriers might best fit your business.
|
|
|
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 | |
|
Class
|
Payroll
|
|
Total Payroll:
|
$0 |
|
|
|
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.
|
Market Comparison for Gsp Finance Llc
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 41st percentile.
- There was a recent mod increase.
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 in-line with peers, in the 40th percentile.
- In the last year, LCM Decreased by 7%. While peers Increased an average of 0%.
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.
- Of those who changed carriers, 7% decreased their LCM vs those who stayed with their current provider who saw a 0.9% increase, a difference of roughly 8x.
- Current Carrier's market share is in the 99th percentile at 29.4% of the market.
Business Owners
- We don't sell insurance. Our market intelligence allows us to find the ideal commercial insurance partner.
- Try our 100% free premium estimate tool to compare coverage options.
- Get a Quote from a real agent, guided by our market insights.
Agents
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains:
Policy Renewal Date
Current Carrier
Policy Number
SIC Code
NAICS Code
Ex MOD
LCM
Multi State
Carrier Tenure
Employees
Contact Phone
Benefits
Coverage History
Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
- Competitive Account Won/Loss
- Competitive Class distribution
- Appetite Analysis
- Market Share Analysis
Get A Quote
We will utilize our unique insights into the business insurance market to find up to three appropriate carriers and agents, and will put them in contact with you to provide a quote.
Would you like to transfer the workflow to . Please confirm below.
Please confirm to permanent delete the record.
Join To Continue with Free Reports
We're glad you are enjoying the view into the extensive data we offer.
We ask that you register for an account to continue viewing these reports.
No obligation, you won't be charged anything. We just hope that once you join, you might check out all that Insurance Xdate has to offer Agents, Agencies, and Carriers.
Subscribe To Continue
You have reached your daily limit of reports. Please consider subscribing to continue benefiting from the abundant data Insurance Xdate has to offer. Subscribing gives you access to:
- Unlimited report access
- Prospecting Data for P&C and Benefits
- Producer reports
- Loss Run Requests
- Submission Management
It looks like you already have an account with us
You are permitted one free trial account. You can reset your password if you have forgotten it. If you would like a demo please contact us.
Set your appointment date/time: