Insurance Xdate > Reports > NJ > Danielle Die Cut Products Inc


Commercial Insurance Overview

Danielle Die Cut Products Inc is based in Middlesex county in New Jersey. They operate in the Manufacturing industry, specifically in Paper Coated and Laminated Nec, which is a low risk industry. The business is in the Assigned Risk pool, which means they are (or were) a high risk business. 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.

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 rather good, no matter what type of business. The rating based on their claims (MOD) increased by 16% which is not good. It is worth investigating why, and taking action to mitigate risks

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 increased by 10%. Relevant questions to ask are has payroll increased or have claims increased?

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Danielle Die Cut Products Inc. 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 Danielle Die Cut Products Inc

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 Very Good, in the 0th percentile compared to peers.
  • In the last year, premium Increased by 10%. While peers Increased an average of 57%.
Good

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 86th percentile compared to peers.
  • Mod increased by more than 75% of peers.
Needs Attention

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.

  • 16% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 4.4% 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
Contact Phone
Website
Loss Cost
Coverage History


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