Insurance Xdate > Reports > NJ > Cotorro Security 1, Llc


Commercial Insurance Overview

Cotorro Security 1, Llc is based in Essex county in New Jersey. They operate in the Public Admin industry, specifically in Detective and Armored Car Services, which is a low risk industry. The business is in the Assigned Risk pool, which means they are (or were) a high risk business. , but based on their MOD they should look at leaving the AR 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.

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.

We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has decreased by -6%, does this mean payroll is decreasing or are they managing their risk better?

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Cotorro Security 1, 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 Cotorro Security 1, 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.
Needs Attention

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 in-line with peers, in the 70th percentile.
  • In the last year, premium Decreased by 6%. While peers Increased an average of 4%.
Average

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 in-line with peers, in the 60th percentile.
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.

  • 15% of peers have changed carriers since last year. Those who did, saw a 32.9% decrease in premium vs those who stayed with their current provider had a 3.1% decrease, roughly 10x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 14% of the market.
Needs Attention

Business Owners

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Agents

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Policy Renewal Date
Current Carrier
Class Code
SIC Code
Premium
Ex MOD
Multi State
Assigned Risk
Carrier Tenure
Loss Cost
Coverage History


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Carriers & Underwriters

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  • Competitive Account Won/Loss
  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis