Insurance Xdate > Reports > NY > The Culture Trip (usa) Ltd


Commercial Insurance Overview

The Culture Trip (usa) Ltd is based in Albany county in New York. They operate in the Services industry, specifically in Information Retrieval Services, which is a low risk industry. The business is in a Professional Employer Organization (PEO), which offers coverage to a pool of businesses to manage risk. These are often offered by HR companies. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

The business is in a PEO, often offered by HR and Payroll companies. They have been with the same worker's comp carrier for the last 3 years. We see commercial coverage for them in 3 states including North Carolina, New York, Ohio.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.043. An LCM of 1.043 is pretty good. More details on how it compares can be seen below.

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 The Culture Trip (usa) Ltd. 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 The Culture Trip (usa) Ltd

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 28th 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 in-line with peers, in the 38th percentile.
Good

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.

  • 13% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 7.6% of the market.
Average

Business Owners

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Agents

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Policy Renewal Date
Current Carrier
Policy Number
SIC Code
NAICS Code
Ex MOD
LCM
Multiple Locations
Multi State
Carrier Tenure
Contact Phone
Coverage History


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Carriers & Underwriters

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  • Competitive Class distribution
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  • Market Share Analysis