RIPCON LLC

1803 HAMILTON STREET
BELLEVILLE, NJ 07109

Talking Points

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 92% of peers.
  • In the last year, premium 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.

  • 14% of peers have changed carriers since last year. Those who did, saw a 33.9% decrease in premium vs those who stayed with their current provider had a 0.2% increase, roughly 152x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 6.8% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier Premium
2023
AR
2022
AR
2021
AR

Contacts

Industry Classification