Insurance Xdate > Reports > NY > First Baptist Church Of Johnstown
Commercial Insurance Overview
First Baptist Church Of Johnstown is based in county in New York. They operate in the Services industry, specifically in Religious Organizations, 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 10 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 1.443. A 1.443 LCM overall is a bit high, but check the market comparison below for more details.
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.
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to First Baptist Church Of Johnstown. This can give you an idea of what carriers might best fit your business.
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$1.93$0.36
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|---|---|---|
| $0.49 1031 Businesses 21 | ||
| $0.76 827 Businesses 16 | ||
| $0.69 801 Businesses 13 | ||
| $0.65 383 Businesses 47 | ||
| $0.72 2% 299 Businesses 15 | ||
| $0.71 213 Businesses 9 | ||
| $0.73 185 Businesses 1 | ||
| $0.63 48 Businesses 1 | ||
| $0.64 5% 46 Businesses 25 | ||
| $0.60 37 Businesses 1 |
Market Comparison for First Baptist Church Of Johnstown
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 high. It is in the 82nd percentile compared to peers.
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 59% of peers.
- Shopping around for a carrier that would provide a more competitive tier would make sense.
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.
- 4% of peers have changed carriers since last year.
- Current Carrier's market share is in the 75th percentile at 5.7% 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