Magnetic Technologies Corporation is based in Albany county in New York. They operate in the Manufacturing industry, specifically in Porcelain Electrical Supplies, 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 10 years, it may be wise to shop around. We have coverage data for them in a single state.
The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.475. A 1.475 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 5% which is a significant shift. It is worth investigating why.
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 INF% which is not good. It is worth investigating why, and taking action to mitigate risks
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Magnetic Technologies Corporation. This can give you an idea of what carriers might best fit your business.
Enter the State, Mod, and Payroll for each employee class to get premium estimates from the top carriers writing that class of business
Carriers are sorted by number of accounts in that class of business.
Our market intelligence, prospecting database, and software can streamline your new business process. This listings contains: Policy Renewal DateCurrent CarrierPolicy NumberSIC CodeEx MODLCMMulti StateCarrier TenureRevenueEmployeesContact EmailContact PhoneWebsiteCoverage History
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