Insurance Xdate > Reports > NJ > D & B Contractors Inc
Commercial Insurance Overview
D & B Contractors Inc is based in Passaic county in New Jersey. They operate in the Manufacturing industry, specifically in Special Industry Machinery 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. , but based on their MOD they should look at leaving the AR pool.
It looks like they just changed commercial insurance carriers. We see commercial coverage for them in 2 states including New Jersey, New York.
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 8% 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.
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to D & B Contractors Inc. This can give you an idea of what carriers might best fit your business.
$1.60$0.43
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$0.45 63% 21 Businesses 6 | ||
$0.54 6% 6 Businesses 1 | ||
$0.77 20% 3 Businesses 1 | ||
$0.65 3 Businesses | ||
$0.61 3 Businesses | ||
$1.13 29% 1 Businesses 1 | ||
$0.65 1 Businesses | ||
$0.62 1 Businesses | ||
$0.80 33% 1 Businesses | ||
$0.49 1 Businesses |
Market Comparison for D & B Contractors Inc
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 Higher than 100% of peers.
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 88th percentile compared to peers.
- Mod increased by more than 75% of peers.
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.
- 12% of peers have changed carriers since last year.
- Current Carrier's market share is in the 50th percentile at 5.9% of the market.
Business Owners
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Carriers & Underwriters
Our data provides an unparalleled view into the commercial insurance market across the US. Examples include:
- Competitive Account Won/Loss
- Competitive Class distribution
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- Market Share Analysis