Insurance Xdate > Reports > NJ > Lockwood Boat Works Inc


Commercial Insurance Overview

Lockwood Boat Works Inc is based in Middlesex county in New Jersey. They operate in the Transportation/Utilities industry, specifically in Marina Drivers Coverage Under State Act Only, 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 13 years, it may be wise to shop around. 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. The rating based on their claims (MOD) increased by 13% which is not good. It is worth investigating why, and taking action to mitigate risks

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Lockwood Boat Works 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 Lockwood Boat Works Inc

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 83rd 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.

  • 9% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 56.5% of the market.
Good

Business Owners

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Agents

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Policy Renewal Date
Current Carrier
Policy Number
Class Code
SIC Code
Ex MOD
Multi State
Carrier Tenure
Revenue
Employees
Contact Email
Contact Phone
Website
Benefits
Loss Cost
FEIN
Coverage History


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Carriers & Underwriters

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