Insurance Xdate > Reports > NJ > Reagent Chemical & Research, Llc


Commercial Insurance Overview

Reagent Chemical & Research, Llc is based in Hunterdon county in New Jersey. They operate in the Manufacturing industry, specifically in Natural Gas Liquids, which is a low risk industry. 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 see commercial coverage for them in 18 states including Alabama, Colorado, Florida, Georgia, Iowa, Illinois, Kentucky, Maryland, Missouri, North Carolina, New Jersey, Nevada, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas.

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 14% 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 Reagent Chemical & Research, 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 Reagent Chemical & Research, Llc

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 85th 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.

  • 22% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 1st percentile at 11.1% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Owners

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Ex MOD
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