Dover Federal Credit Union

1075 Silver Lake Blvd
Dover, DE 19904

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 in-line with peers, in the 61st percentile.
Average

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 Higher than 100% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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.

  • 22% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 26.1% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier Premium LCM
2024

2.200
2023

1.247
2023

3.051
2023

1.984
2023

2.200
2023
01-01-2023

-
2022

2.940
2022

1.247
2022

3.051
2022

1.691
2022

2.168
2021

2.518
2021

3.051
2021

1.691
2020

2.210
2020

1.544
2019

1.870
2019

1.387
2018

1.870
2018

1.387
2017
01-01-2017

1.200
2016

1.200
2015
01-01-2015

2.880
2014

-
2013

-
2012

-
2011

-
2010

-
2009
01-01-2009

-

Contacts

LRSVB ZHMPGQZSIB
Benefits Admin
(645) 045-8760
e6b

RMFVUIBG HNTQ
Benefits Admin
(531) 856-5011
ee0

WYVTVA UOGBUZGVSHW
Benefits Admin
(837) 287-0788
48d

PFUGNE KQINPASX
Benefits Admin
(236) 697-0354
13de

Wwnlbep Dmxeu
Vice President of Human Resources
(896) 218-0917
rtlqhdiup@puwpegrx.uqg

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,479,844 $ 5,828,853 $ 4,400,999 $ 5,075,710 $ 8,967,592 $ 6,735,674 $ 1,995,894 $ 6,555,751 $ 7,892,481 $ 3,463,637 $ 3,491,085 $ 629,674
Liabilities: $ 0 $ 5 $ 1 $ 7 $ 55 $ 500,000
EE Contrib: $ 599,350 $ 193,673 $ 309,770 $ 155,550 $ 488,366 $ 948,981 $ 444,430 $ 219,389 $ 222,706 $ 391,431 $ 248,661 $ 567,250
Emp Contrib: $ 216,603 $ 653,859 $ 796,952 $ 438,417 $ 957,666 $ 80,458 $ 271,311 $ 729,923 $ 33,733 $ 47,772 $ 1,811 $ 69,448
Income/Loss: $ 421,355 $ 652,877 $ 427,426($ 178,457) $ 116,782 $ 260,603 $ 52,959 $ 918,168 $ 37,007 $ 558,766($ 89,613) $ 443,869
Total Income: $ 1,444,721 $ 1,697,235 $ 8,671,777 $ 795,580 $ 940,913 $ 703,275 $ 16,882 $ 124,171 $ 819,638 $ 230,524 $ 469,806 $ 247,872
Paid Benefits: $ 465,076 $ 236,018 $ 109,638 $ 827,384 $ 623,445 $ 169,642 $ 341,495 $ 159,460 $ 21,228 $ 507,681 $ 757,166 $ 972,493
Expenses: $ 0 $ 6 $ 56 $ 536 $ 36 $ 40 $ 1 $ 53 $ 420
  Commission: $ 39,329 $ 41,631 $ 8,857 $ 4,203 $ 8,334 $ 5,430 $ 7,521 $ 9,228 $ 1,933 $ 910 $ 3,862 $ 355
Net Income: $ 927,926 $ 478,242 $ 450,917 $ 9,387($ 581,483) $ 533,419($ 576,802)($ 60,406) $ 244,329 $ 471,012($ 681,890) $ 957,946
Net Assets: $ 5,407,770 $ 2,107,419 $ 6,435,291 $ 6,192,256 $ 9,977,344 $ 7,565,912 $ 3,152,658 $ 4,667,935 $ 5,852,151 $ 9,335,704 $ 8,940,800 $ 5,645,066

Participants

202120202019201820172016201520142013201220112010
Total Participants:155338713650457280802279292804243712
Active Part.:11753578992478882995312638445
Retired Part.:f03afad00c 9cc010cef
Deceased Part.:c6fed3dc3fdf8d27e8bfd46

Insurance

No Insurance Coverage

Providers

TOHANDWC NLYGTBUXIFS YMFEENJXDRTWH
CZSLARAI VGZFEMZEXHO LOGYROQVSNQENParticipant loan processing
Sub-transfer agency fees
Recordkeeping fees
Account maintenance fees
Compensation:$21,149
Relation:RECORDKEEPER
LJIQXU HFCLSKD RTBXSBXXIK CHPInvestment advisory (plan)
Compensation:$18,180
Relation:ADVISOR
VMYIWIYI KZQTZUZXJEK JWGDPHQHBNOES
Source: AM CENT GOVT BOND R5 - AMERICAN CE
Sub-transfer agency fees
Compensation:0.05%
RVFITPNK MRXGFHPWYIA FHRHMGIYULWUW
Source: BAIRD AGGR BOND INST - US BANCORP
Sub-transfer agency fees
Compensation:0.02%
YJPPKVXP RJSTJNANUYE URWISXRSXLERR
Source: CAUSEWAY INTL VAL IS - DST SYSTEMS
Sub-transfer agency fees
Compensation:0.10%
YPPZLZWQ XQQKZKXHGTA UFUGCRDJQHSLS
Source: DODGE & COX STOCK - DST ASSET MANA
Sub-transfer agency fees
Compensation:0.10%

Features

    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.

    2E - Profit-sharing

    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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    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

20222021202020192018
BOY Assets: $ 0 $ 67 $ 5 $ 7
Liabilities: $ 0 $ 1 $ 5
EE Contrib: $ 0 $ 41 $ 4 $ 3
Emp Contrib: $ 0 $ 67 $ 96 $ 9 $ 9
Income/Loss: $ 0 $ 9 $ 35
Total Income: $ 0 $ 2 $ 77 $ 27
Paid Benefits: $ 0
Expenses: $ 0 $ 4 $ 5 $ 0
  Commission: $ 0 $ 605 $ 3
Net Income: $ 0 $ 96
Net Assets: $ 0 $ 54 $ 5 $ 2 $ 2

Participants

20222021202020192018
Total Participants:118307408702731
Active Part.:117218010534070
Retired Part.:16d0e73
Deceased Part.:d8fdbe

Insurance

QPUZTGLP QSIXRVVO
Renewal:02-28-2022
Covered:76
  1. Health

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,206,888
Commission4.98% $ 60,116
Fees0% $ 0
Brokers
NCYHPQQDULCU TVVS XOAVDTKOQ WRICYOK
Renewal:02-28-2022
Covered:93
  1. Dental

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 79,585
Commission4.15% $ 3,299
Fees1.61% $ 1,282
Brokers
PAGRCGB DATCI PKACY
Renewal:02-28-2022
Covered:20
  1. PREPAID LEGAL

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 4,058
Commission9.98% $ 405
Fees0% $ 0
Brokers
DJARAI BJ VERYV ZASL RGJCMDTYI LCMQTSU
Renewal:02-28-2022
Covered:117
  1. Life Insurance
  2. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 22,587
Commission8.45% $ 1,908
Fees5.88% $ 1,328
Brokers
SBMEIS AU NLASI XTAD BEQABJMXQ EMRFGPQ
Renewal:02-28-2022
Covered:117
  1. Long Term Disab. Ins

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 28,159
Commission12.1% $ 3,407
Fees6% $ 1,690
Brokers
AUJYMN WX MTQLY TOAL PJWSFAHAB MXGFFZF
Renewal:02-28-2022
Covered:117
  1. Temp. Disability Insurance

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 36,177
Commission7.45% $ 2,696
Fees6.04% $ 2,186
Brokers
HGMVRE TN SDVER SIOIUNGVZ BTXIJQE
Renewal:02-28-2022
Covered:37
  1. VOLUNTARY LIFE & AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 11,454
Commission15.02% $ 1,720
Fees6.01% $ 688
Brokers
AZXNWE ARNJSUL BNZK
Renewal:02-28-2022
Covered:92
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 9,525
Commission7.62% $ 726
Fees0% $ 0
Brokers

Providers

No Providers

Features

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

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

    4Q - Other.