Insurance Xdate > Reports > LA > Good Shepherd Personal Care Service Llc
Commercial Insurance Overview
Good Shepherd Personal Care Service Llc is based in Morehouse county in Louisiana. They operate in the Services industry, specifically in Residential Care, 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 2 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 1.600. A 1.600 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by INF% which is a significant shift. It is worth investigating why.
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Good Shepherd Personal Care Service Llc. This can give you an idea of what carriers might best fit your business.
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$4.52$0.76
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|---|---|---|
| $1.29 6668 Businesses 2190 | ||
| $1.70 10% 5560 Businesses 3921 | ||
| $1.58 1% 3954 Businesses 1937 | ||
| $2.13 5% 3775 Businesses 918 | ||
| $1.60 3569 Businesses 1705 | ||
| $1.64 52% 3249 Businesses 836 | ||
| $1.20 2720 Businesses | ||
| $1.52 2197 Businesses 507 | ||
| $1.85 8% 1764 Businesses 1152 | ||
| $1.75 1424 Businesses |
Market Comparison for Good Shepherd Personal Care Service Llc
For the Agent
These are points that might help guide an agent as they look to approach a prospect.
- A break in policy terms may indicate inconsistent work load which can result in substandard employment.
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 50th percentile.
- In the last year, LCM Increased by INF%. While peers Increased an average of 3%.
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, 8.5% decreased their LCM vs those who stayed with their current provider who saw a 3.7% increase, a difference of roughly 2x.
- Current Carrier's market share is in the 95th percentile at 10.9% of the market.
Business Owners
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Agents
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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