Canon Medical Research Usa Inc
706 N DEERPATH DR
VERNON HILLS, IL 60061
Commercial Insurance Overview
Canon Medical Research Usa Inc is based in Lake county in Illinois. They operate in the Manufacturing industry, specifically in Electromedical Equipment, 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 6 years, it may be wise to shop around. We see commercial coverage for them in 7 states including Connecticut, Florida, Illinois, Maryland, North Carolina, Ohio, 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 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
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 decreased by -19%, does this mean payroll is decreasing or are they managing their risk better?
Premium Comparison
This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Canon Medical Research Usa Inc. This can give you an idea of what carriers might best fit your business.
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Erie Ins Grp
Pol Rate: 1.50 Med. LCM: 1.50 | $1.50
32117 Businesses 2242 | |
Berkshire Hathaway Grp
Pol Rate: 2.20 Med. LCM: 2.20 | $2.20
25207 Businesses 6534 | |
Hartford Fire & Cas Grp
Pol Rate: 1.91 Med. LCM: 1.91 | $1.91 87%
22158 Businesses 2305 | |
Travelers Grp
Pol Rate: 1.32 Med. LCM: 1.32 | $1.32
14924 Businesses 1409 | |
Amtrust Ngh Grp
Pol Rate: 1.85 Med. LCM: 1.85 | $1.85
13877 Businesses 1630 | |
State Farm Grp
Pol Rate: 2.09 Med. LCM: 2.09 | $2.09
5438 Businesses 624 | |
Selective Ins Grp
Pol Rate: 3.03 Med. LCM: 3.03 | $3.03
5406 Businesses 336 | |
Markel Corp Grp
Pol Rate: 2.06 Med. LCM: 2.06 | $2.06 2%
5380 Businesses 375 | |
Proassurance Corp Grp
Pol Rate: 1.65 Med. LCM: 1.65 | $1.65
5258 Businesses 382 | |
Liberty Mut Grp
Pol Rate: 1.56 Med. LCM: 1.56 | $1.56 25%
4667 Businesses 343 | |
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Payroll
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Total Payroll:
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Calculate Premium Estimates
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.
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Market Comparison for Canon Medical Research Usa Inc
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 82% of peers.
- In the last year, premium Decreased by 19%. While peers Increased an average of 6%.
Mod is an indication of how risky a company is to insure. It is based on a company's claim history.
- Experience Mod is very good. It is in the 0th percentile compared to peers.
- There was a recent mod increase.
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.
- 14% of peers have changed carriers since last year. Those who did, saw a 18.4% decrease in premium vs those who stayed with their current provider had a 9.5% increase.
- Current Carrier's market share is in the 1st percentile at 0.6% of the market.
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