Insurance Xdate > Reports > OR > Spin Laundry Lounge Llc


Commercial Insurance Overview

Spin Laundry Lounge Llc is based in Multnomah county in Oregon. They operate in the Retail industry, specifically in Coin operated Laundries and Cleaning, 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 7 years, it may be wise to shop around. 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 2.140. A 2.140 LCM overall is a bit high, but check the market comparison below for more details.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Spin Laundry Lounge 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 Spin Laundry Lounge Llc

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 95% of peers.
  • Shopping around for a carrier that would provide a more competitive tier would make sense.
  • In the last year, LCM Increased by 0%. While peers Increased an average of 1%.
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.

  • 5% of peers have changed carriers since last year.
  • Of those who changed carriers, 6.6% decreased their LCM vs those who stayed with their current provider who saw a 1% increase, a difference of roughly 6x.
  • Current Carrier's market share is in the 95th percentile at 13.2% of the market.
Needs Attention

Business Owners

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Agents

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Policy Renewal Date
Current Carrier
Policy Number
Class Code
SIC Code
NAICS Code
LCM
Multi State
Carrier Tenure
Revenue
Employees
Contact Email
Contact Phone
Website
Benefits
Loss Cost
FEIN
Coverage History


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Carriers & Underwriters

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  • Competitive Account Won/Loss
  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis