Bennett Heat Treating & Brazing Company Inc

690 Ferry St
Newark, NJ 07105


Commercial Insurance Overview

Bennett Heat Treating & Brazing Company Inc is based in Essex county in New Jersey. They operate in the Manufacturing industry, specifically in Metal Heat Treating, 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 11 years, it may be wise to shop around. We see commercial coverage for them in 2 states including New Jersey, Pennsylvania.

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 14% which is not good. It is worth investigating why, and taking action to mitigate risks

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Bennett Heat Treating & Brazing Company 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 Bennett Heat Treating & Brazing Company 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 58th 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.

  • 33% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 33% of peers who changed carriers, This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 95th percentile at 25% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Owners

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Policy Renewal Date
Current Carrier
Policy Number
Class Code
SIC Code
NAICS Code
Ex MOD
Multi State
Carrier Tenure
Revenue
Employees
Contact Email
Contact Phone
Website
OSHA
Benefits
DOT
Loss Cost
FEIN
Coverage History


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  • Competitive Class distribution
  • Appetite Analysis
  • Market Share Analysis

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