Diamond Materials, LLC

242 N. James Street
Newport, DE 19804

Talking Points

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 very good. It is in the 9th percentile compared to peers.
  • Mod decreased by more than 75% of peers.
Good

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 in-line with peers, in the 53rd percentile.
Average

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.

  • 24% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 1st percentile at 5.9% 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 Stats

Policy History

Term Exp. Mod Carrier LCM
2023

1.710
2023

1.850
2022

1.850
2021

1.710
2021

-
2020

1.710
2020

-
2019

1.710
2019

-
2018

1.710
2018

-
2017

1.710
2017

-
2017

-
2016

1.710
2016

-
2015

1.710
2015

-
2014

-
2013

-
2012

-
2012

-
2012
09-01-2011

-
2011

-
2011

-
2010

-
2009

-
2009

-

Contacts

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(008) 894-0715
04f8

QTWL OEQICK
Benefits Admin
(662) 574-9426
00453

MMQK UTYH
Benefits Admin
(178) 144-2838
550

XNKH VYHIQQS
Benefits Admin
(963) 414-3306
64

AEOM HSNLSVR
Benefits Admin
(191) 008-9750
645

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 7,261,915 $ 232,441 $ 8,295,021 $ 8,239,710 $ 2,467,501 $ 3,448,399 $ 1,627,434 $ 1,315,572 $ 3,615,426 $ 3,555,509 $ 6,423,992 $ 5,703,838
Liabilities: $ 0 $ 44 $ 818 $ 7 $ 94 $ 2 $ 2
EE Contrib: $ 905,170 $ 928,564 $ 549,519 $ 274,957 $ 343,257 $ 889,933 $ 88,281 $ 209,935 $ 998,803 $ 911,219 $ 891,298 $ 218,909
Emp Contrib: $ 478,784 $ 861,800 $ 633,894 $ 19,210 $ 98,953 $ 97,366 $ 46,407 $ 58,478 $ 83,523 $ 65,009 $ 44,854 $ 3,885
Income/Loss: $ 1,040,729 $ 9,116,747 $ 445,210($ 981,454) $ 853,139 $ 882,696($ 21,842) $ 729,570 $ 931,953 $ 707,892($ 10,364) $ 948,683
Total Income: $ 2,426,078 $ 4,849,684 $ 5,064,901 $ 688,692 $ 9,818,753 $ 306,581 $ 309,601 $ 648,499 $ 623,251 $ 197,915 $ 760,042 $ 611,446
Paid Benefits: $ 857,494 $ 604,119 $ 752,339 $ 136,565 $ 9,252 $ 89,041 $ 32,696 $ 53,163 $ 722,678 $ 1,466 $ 323,775 $ 39,100
Expenses: $ 0 $ 1 $ 0 $ 33 $ 9 $ 393
  Commission: $ 95,104 $ 78,762 $ 4,927 $ 97,517 $ 48,346 $ 98,170 $ 29,550 $ 36,500 $ 78,208 $ 48,878 $ 75,618 $ 94,980
Net Income: $ 1,472,229 $ 9,347,086 $ 2,517,456 $ 9,663 $ 1,736,821 $ 645,353 $ 330,963 $ 357,443 $ 561,629 $ 768,584($ 79,472) $ 376,119
Net Assets: $ 8,734,144 $ 9,620,964 $ 7,164,342 $ 5,634,951 $ 8,607,990 $ 9,834,306 $ 4,158,534 $ 2,348,319 $ 3,909,879 $ 9,445,533 $ 3,911,507 $ 544,061

Participants

202120202019201820172016201520142013201220112010
Total Participants:291020561072531652640187404484581846
Active Part.:27110395491036675625906086304701301
Retired Part.:2549a41f243165e23 3
Deceased Part.:8b18ab582 c19a9e48cc8698

Insurance

XKAE JYEUBFW OXUW ICQVZDDUF KCYZVSJ
Renewal:12-31-2021
Covered:179
PENSION_EOY_SEP_ACCT_AMT: 8620687PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 41,171
Fees $ 5,726
Brokers

Providers

ULQOKEOG WVQKSDCKGD
415 8TH AVE NE
BRAINERD, MN 56401
Plan Administrator
Compensation:$1,600
Relation:TPA
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PO BOX 600
BUFFALO, NY 14201
Recordkeeping and information management (computing, tabulating, data processing, etc.)
Compensation:$93,504
Relation:RECORDKEEPER

Features

    2E - Profit-sharing

    2F - ERISA section 404(c) Plan - This plan, or any part of it is intended to meet the conditions of 29 CFR 2550.404c-1.

    2G - Total participant-directed account plan - Participants have the opportunity to direct the investment of all the assets allocated to their individual accounts, regardless of whether 29 CFR 2550.404c-1 is intended to be met.

    2J - Code section 401(k) feature - A cash or deferred arrangement described in Code section 401(k) that is part of a qualified defined contribution plan that provides for an election by employees to defer part of their compensation or receive these amounts in cash.

    2K - Stock bonusCode section 401(m) arrangement - Employee contributions are allocated to separate accounts under the plan or employer contributions are based, in whole or in part, on employee deferrals or contributions to the plan. Not applicable if plan is 401(k) plan with only QNECs and/or QMACs. Also not applicable if Code section 403(b)(1), 403(b)(7) or 408 arrangements/accounts/annuities.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    3D - Pre-approved pension plan - A master, prototype, or volume submitter plan that is the subject of a favorable opinion or advisory letter from the IRS.

Health Benefits

Financials

202120202019201820172016
BOY Assets: $ 0 $ 2
Liabilities: $ 0 $ 7 $ 91 $ 79 $ 8
EE Contrib: $ 0 $ 25 $ 2 $ 2 $ 7
Emp Contrib: $ 0 $ 4 $ 3 $ 9
Income/Loss: $ 0 $ 42
Total Income: $ 0 $ 9 $ 8
Paid Benefits: $ 0 $ 63 $ 43
Expenses: $ 0 $ 8 $ 33 $ 6
  Commission: $ 0 $ 34 $ 9 $ 82
Net Income: $ 0 $ 5 $ 5 $ 459 $ 70
Net Assets: $ 0 $ 8 $ 8 $ 0 $ 0

Participants

202120202019201820172016
Total Participants:241479463961608097
Active Part.:241762852146033105
Retired Part.:49829 ee72
Deceased Part.:9db18b5c3a17

Insurance

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Renewal:12-31-2021
Covered:491
  1. Health
  2. Prescription Drug

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 2,852,960
Commission4.94% $ 140,941
Fees0% $ 0
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).


OSHA

Motor Carrier