Insurance Xdate > Reports > TN > Medallion Financial Services Llc


Commercial Insurance Overview

Medallion Financial Services Llc is based in Shelby county in Tennessee. They operate in the Finance/Ins/RE industry, specifically in Short term Business Credit, 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 2 states including Mississippi, Tennessee.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.440. A 1.440 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 Medallion Financial Services 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 Medallion Financial Services 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 in-line with peers, in the 46th percentile.
  • In the last year, LCM Decreased by 1%. While peers Increased an average of 13%.
Average

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.

  • 27% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 27% of peers who changed carriers, 33.8% decreased their LCM vs those who stayed with their current provider who saw a 5.5% decrease, a difference of roughly 6x. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 1st percentile at 6.7% of the market.
Needs Attention

Business Owners

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Current Carrier
Policy Number
SIC Code
NAICS Code
LCM
Multiple Locations
Multi State
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Employees
Contact Email
Contact Phone
Website
Benefits
FEIN
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Carriers & Underwriters

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  • Market Share Analysis