Mumford Sheet Metal Works Inc

PO Box 170
Selbyville, DE 19975

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 58th 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 25th percentile compared to peers.
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.

  • 20% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 1st percentile at 6.7% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2023

1.500
2022

1.500
2021

-
2020

-
2020
01-03-2019

-
2019

1.888
2018

1.834
2017

1.834
2016

1.667
2015

1.667
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

YAD OIPRHD
Benefits Admin
(511) 343-5746
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VZIRNDB5326
Benefits Admin
(905) 659-0070
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Benefits Admin
(741) 447-7275
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Chief Manufacturing Officer
(278) 142-1041
51d

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,111,908 $ 5,670,782 $ 775,469 $ 382,834 $ 950,660 $ 100,547 $ 778,572 $ 290,270 $ 212,637 $ 668,800 $ 467,454 $ 599,147
Liabilities: $ 0 $ 12 $ 137 $ 9 $ 409 $ 80 $ 68 $ 76 $ 3 $ 34
EE Contrib: $ 35,994 $ 99,539 $ 92,258 $ 84,050 $ 50,120 $ 92,991 $ 91,649 $ 44,325 $ 63,250 $ 20,758 $ 54,377 $ 59,474
Emp Contrib: $ 18,747 $ 55,465 $ 24,696 $ 20,881 $ 2,540 $ 12,988 $ 91,388 $ 91,157 $ 79,443 $ 73,472 $ 30,541 $ 66,770
Income/Loss: $ 208,199 $ 226,509 $ 51,772($ 40,664) $ 702,916 $ 69,738($ 47,045) $ 58,819 $ 127,713 $ 71,745($ 1,111) $ 91,180
Total Income: $ 262,940 $ 464,255 $ 672,362($ 13,415) $ 398,193 $ 471,590 $ 12,545 $ 855,958 $ 544,767 $ 68,713 $ 39,471 $ 20,772
Paid Benefits: $ 9,832 $ 45,800 $ 911,684 $ 6,082 $ 5,489 $ 22,402 $ 1,582 $ 69,367 $ 99,177 $ 5,614 $ 41,101 $ 14,043
Expenses: $ 0 $ 27 $ 46 $ 11 $ 7 $ 1
  Commission: $ 0 $ 26 $ 84 $ 1 $ 490 $ 73 $ 37 $ 93 $ 508 $ 12 $ 741
Net Income: $ 253,108 $ 59,805 $ 471,145($ 2,185) $ 35,929 $ 16,680 $ 68,396 $ 72,224 $ 123,030 $ 94,450 $ 68,552 $ 67,296
Net Assets: $ 1,365,016 $ 5,692,192 $ 5,507,664 $ 329,606 $ 708,578 $ 797,699 $ 542,850 $ 163,501 $ 937,803 $ 668,800 $ 619,260 $ 459,582

Participants

202120202019201820172016201520142013201220112010
Total Participants:13904019855134084434157
Active Part.:12741869368712291e195152e
Retired Part.:fb554bb875884f84 28
Deceased Part.:71352e e2ed99 922122831f

Insurance

No Insurance Coverage

Providers

No Providers

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.

    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.