Energy Plus Ny Inc

694 MYRTLE AVE STE 432
BROOKLYN, NY 11205


Commercial Insurance Overview

Energy Plus Ny Inc is based in Kings county in New York. They operate in the Manufacturing industry, specifically in Noncurrent carrying Wiring Devices, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

It looks like they just changed commercial insurance carriers. 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 1.050. An LCM of 1.050 is pretty good. More details on how it compares can be seen below. Their LCM has decreased -14% which is a good sign. They either shifted to a better carrier tier, or were placed with a better carrier.

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.

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Energy Plus Ny Inc. This can give you an idea of what carriers might best fit your business.

$3.85$0.75
Erie Ins Grp
$1.50
$1.04$2.30
Berkshire Hathaway Grp
$2.20
$1.20$2.08
Hartford Fire & Cas Grp
$1.91
$0.83$3.56
Travelers Grp
$1.32
$0.85$3.85
Amtrust Ngh Grp
$1.85
$1.00$2.30
State Farm Grp
$2.09
$1.14$2.10
Selective Ins Grp
$3.03
$1.10$3.43
Markel Corp Grp
$2.06
$1.40$2.39
Proassurance Corp Grp
$1.65
$1.00$1.73
Liberty Mut Grp
$1.56
$0.75$3.20

Market Comparison for Energy Plus Ny Inc

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

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is Very Good, in the 24th percentile compared to peers.
  • In the last year, LCM Decreased by 14%. While peers Increased an average of 1%.
Good

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.

  • 23% of peers have changed carriers since last year.
  • Of those who changed carriers, 5.3% decreased their LCM vs those who stayed with their current provider who saw a 0.5% increase, a difference of roughly 11x.
  • Current Carrier's market share is in the 75th percentile at 15.4% of the market.
Needs Attention

Business Owners

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Policy Renewal Date
Current Carrier
Policy Number
SIC Code
Ex MOD
LCM
Multi State
Carrier Tenure
Revenue
Contact Email
Contact Phone
Website
Coverage History


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  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis

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