FRANK KOCH WELDING LLC

PO BOX 2259
WEST PATERSON, NJ 07424

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 in-line with peers, in the 30th percentile.
  • In the last year, premium Increased by more than 75% of peers.
Needs Attention

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 in-line with peers, in the 71st percentile.
  • There was a recent mod increase.
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.

  • 16% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 11.1% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier Premium
2023
AR
2022
AR
2021
AR
2020
AR
2019

2018

Contacts

Vtupfyp Bjmsowgzl
Principal
(042) 549-1168
3c275

Industry Classification