THOMAS E. GESICK INC

PO BOX 3768
CARSON CITY, NV 89702

Talking Points

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Very Good, in the 11th percentile compared to peers.
  • In the last year, premium Decreased by 6%. While peers Increased an average of 1%.
Good

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 37th 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.

  • 3% of peers have changed carriers since last year. Those who did, saw a 47.3% decrease in premium vs those who stayed with their current provider had a 2.2% increase, roughly 22x those who stayed with their current provider.
  • Current Carrier's market share is in the 1st percentile at 0.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.370
2022

1.370
2021

1.500
2020

1.500
2019

1.400
2018

1.400
2017

1.400
2016

1.400
2015

1.400
2014

1.400
2013
05-15-2013

1.180
2012

1.650

Contacts

Ypnkrac Rfyu
President
(005) 654-0533
836

RHEDVY Z AUQDIC
Director
8d49
5122e

Industry Classification