ONLINE-POWER HOUR: What is a Loss Ratio, and Why Should I Care?

Members $40/ Non Members $55

Your insurance Loss Ratio is a significant variable that you control, which an Underwriter uses to determine what premium you are going to pay. Each of your insurance policies (i.e., Work Comp, Auto, Liability, Property, D&O, Cyber, Health) have separate loss ratios. Some Underwriters combine the loss ratios of all policies, while most measure each loss ratio separately. There are other important rating factors as well, such as reinsurance pricing, but you do not control them.

This session will define loss ratio as well as explain the percentage ratio you want to strive for and why it is important to know your loss ratio well ahead of your renewal..

Lastly, this session will show you a straightforward way to track your Loss Ratio (in advance) using Bradley & Parker’s unique “Loss History Spreadsheets.” Anyone who attends this Power Hour will receive a copy of the “Loss History Spreadsheet,” along with up to 3 hours complimentary risk management assistance from Bradley & Parker, so you can create and track your own loss ratios.

Presented by Steve Fuoco, Senior Vice President- Bradley & Parker

Steve began his insurance career in 1982 and joined Bradley & Parker in 2008. Steve is a Senior Vice President providing insurance counsel and Risk Management services to established business & personal clients, given his credentials as both a Certified Insurance Counselor and Certified Risk Manager. Steve’s goal is to protect his client’s assets at the lowest available cost of risk. Steve specializes in providing Property & Casualty insurance for businesses, including but not limited to Captive Insurance programs, Worker’s Compensation, Cyber Insurance, Business Interruption, Auto Fleets, and both Product & Professional Liability. Steve works with NonProfits, Fuel Dealers, Recyclers, Manufacturers & Distributors, Professional offices, Habitational Communities, and more. In addition, Steve and his team provide Employee Benefits, Family Asset protections and Surety Bonding. Steve is an alumnus of SUNY Stony Brook’s School of Economics, and an avid New York Yankee fan. He lives in Patchogue Village with his lovely wife Jean, where he was awarded “Italian of the Year” in 2022, and also served as Village Trustee. Steve is the Chairperson Emeritus of the Fuoco Golf Festival to benefit Camp Pa-Qua-Tuck, and also serves on the Citizens Campaign for the Environment Board of Directors. Finally, Steve is a proud Patchogue Rotarian, where both he and Jean have received the coveted “Paul Harris Award.”

Bradley & Parker is a premier insurance, risk management and financial services firm headquartered in Melville, NY, the business hub of Long Island. Founded in 1939, our longstanding history of excellence and dedication to customer service has made us a trusted advisor to almost 10,000 clients.