NOVATECH LLC

11425 CRONHILL DR
OWINGS MILLS, MD 21117

Talking Points

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.
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.

  • 13% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 12.6% of the market.
Average

Business Stats

Policy History

Term Carrier Premium LCM
2024

1.260
2024

1.478
2024

1.400
2024

2.037
2024

-
2024

1.625
2024

1.320
2024

1.414
2023

1.478
2023

1.260
2023

1.400
2023

2.040
2023

-
2023

1.609
2023

1.235
2023

1.766
2023

1.625
2023

1.320
2023

1.128
2023

1.414
2023

1.785
2023

1.637
2023

1.750
2022

1.478
2022

1.365
2022

1.260
2022

2.037
2022

-
2022

-
2022

1.235
2022

1.766
2022

1.742
2022

1.128
2022

1.414
2022

1.785
2022

1.638
2022

1.750
2021

1.478
2021

1.463
2021

2.040
2021

-
2021

-
2021

1.235
2021

1.766
2021

1.742
2021

1.296
2021

1.414
2021

1.681
2021

1.750
2020

-
2020

1.463
2020

-
2020

-
2020

-
2020

-
2020

1.323
2020

1.892
2020

1.742
2020

1.296
2020

1.515
2020

1.688
2020

1.681
2019

-
2019

-
2019

-
2019

1.323
2019

1.202
2019

-
2019

1.590
2019

-
2018

1.590
2017

1.590
2016

1.539
2015

1.539
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

Rizs Fosl
Owner
(237) 398-4286
monw.pkck@zasqpuajewb.lhp

Frndd Qbcae
President
(981) 744-8588
lnrht.uhmrb@gcrdjjvildx.apa

Rldeq Ngebob
Owner
(716) 796-8753
lsshx.opyozt@wgiivbtzqmq.vsm

Qkdvtb Axolybhorw
Chief Operating Officer
(276) 474-2211
bzebbv.qvfrhheuih@clalfegdpix.dnk

Ji Sxhf
VP, Finance
(549) 165-7079
ba.yhln@wbcvjxswrci.roq

Hxzyg Hbegdmyp
VP Administration
(176) 352-4290
Qrcjw.Ovfdhjna@Xvsrwujh.fmx

BBKYF ZROFYOYD
VP Administration
(662) 734-3493
glfusy@khsvqjw.ahl

RX WIRM
Benefits Admin
(279) 962-4669
d8418

FQTWOO TFFGBPY
Benefits Admin
(388) 924-2331
e6a56

OUNA EWGLMO
Benefits Admin
(724) 799-6105
8cf

Hsku Yrmsa
Owner
(021) 483-3684
e69

UEZJYS U WNTN
Benefits Admin
(792) 496-5561
e8139

Ktckdm Xug
(732) 167-0200
bff8

Bpde Nsuyzbcv
Vice President
(305) 069-6314
a985

Uucpxyt Yzfxow
Principal
(129) 176-0829
c919f

2
(874) 788-1073
aa9

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(926) 644-3002
9e8

Rbto Ktfj
Vice President Marketing
c1
96346

6
(317) 808-3732
c82ae

Industry Classification

Retirement Benefits

Financials

2022202120202019201820172016201520142013201220112010
BOY Assets: $ 16,353,495 $ 41,717,751 $ 35,014,974 $ 9,963,080 $ 7,565,116 $ 6,165,398 $ 1,176,365 $ 6,354,724 $ 4,904,151 $ 8,917,797 $ 9,286,018 $ 9,950,172 $ 7,897,076
Liabilities: $ 0 $ 4 $ 4 $ 0 $ 8
EE Contrib: $ 1,853,799 $ 2,608,195 $ 4,551,127 $ 6,515,081 $ 105,062 $ 890,814 $ 49,483 $ 875,739 $ 709,155 $ 712,852 $ 98,860 $ 248,493 $ 616,302
Emp Contrib: $ 601,109 $ 97,464 $ 201,747 $ 807,244 $ 554,147 $ 183,957 $ 705,627 $ 546,053 $ 983,582 $ 800,669 $ 432,096 $ 586,380 $ 92,726
Income/Loss:($ 2,878,288) $ 2,377,663 $ 507,501 $ 3,274,106($ 910,361) $ 605,797 $ 74,306($ 308) $ 292,155 $ 235,670 $ 420,492($ 66,450) $ 203,902
Total Income:($ 402,364) $ 8,106,284 $ 9,265,241 $ 3,596,261 $ 773,976 $ 3,285,717 $ 5,712,278 $ 186,772 $ 526,638 $ 8,081,153 $ 217,423 $ 842,794 $ 895,290
Paid Benefits: $ 1,201,196 $ 2,048,888 $ 2,158,464 $ 557,863 $ 262,737 $ 508,474 $ 246,211 $ 551,086 $ 345,974 $ 822,598 $ 826,646 $ 19,073 $ 605,143
Expenses: $ 0 $ 860 $ 5 $ 565 $ 1 $ 4 $ 2 $ 22 $ 6 $ 7,693 $ 2,297
  Commission: $ 33,023 $ 7,520 $ 44,604 $ 34,149 $ 33,995 $ 3,839 $ 6,765 $ 7,599 $ 8,437 $ 5,761 $ 1,065 $ 4
Net Income:($ 1,653,667) $ 6,183,467 $ 4,754,736 $ 967,724 $ 154,958 $ 8,886,931 $ 810,443 $ 745,509 $ 826,372 $ 3,992,157 $ 240,431 $ 205,259 $ 816,480
Net Assets: $ 14,699,828 $ 35,837,878 $ 41,608,903 $ 79,439,477 $ 53,609 $ 1,540,980 $ 120,033 $ 3,817,600 $ 4,496,680 $ 7,073,628 $ 6,209,631 $ 8,656,760 $ 8,291,556

Participants

2022202120202019201820172016201520142013201220112010
Total Participants:550290681368909243901729034832475100561
Active Part.:4356016267538906799937637967483579ba
Retired Part.:bf24f2 161f2ff26f4dde
Deceased Part.:174651241be585185

Insurance

ESZLPKLD SLREKC MMML WSZFUNOQZ FAANVES
Renewal:12-31-2022
Covered:501
PENSION_EOY_SEP_ACCT_AMT: 14086630PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 0

Providers

JXIUMNFM BESHMR GSBM ZLTDYEHDT YW
PEYUAVOE ENSYRM WIYR NDZFSXTFU CSRecordkeeping and information management (computing, tabulating, data processing, etc.)
Participant loan processing
Participant communication
Direct payment from the plan
Recordkeeping fees
Insurance mortality and expense charge
Other insurance wrap fees
Compensation:$47,755
Relation:NONE
FBOIXWW BBBFQEHTE NXEInvestment advisory (participants)
Investment advisory (plan)
Investment management
Direct payment from the plan
Investment management fees paid directly by plan
Compensation:$28,085
Relation:NONE
QJYIOTDN GWUDAR LGRI TNGWSEGAQ WW
Source: AMERICAN UNITED LIFE INSURANCE CO
Insurance mortality and expense charge
Other insurance wrap fees
Compensation:ASSET CHARGE

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.

    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.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Health Benefits

Financials

2022202120202019201820172016201520142013201220112010
BOY Assets: $ 0 $ 47 $ 8 $ 78 $ 4
Liabilities: $ 0 $ 81 $ 7 $ 5 $ 1 $ 7 $ 5 $ 4 $ 8 $ 75
EE Contrib: $ 0 $ 4 $ 58 $ 33 $ 3 $ 4 $ 8 $ 2 $ 5 $ 7
Emp Contrib: $ 0 $ 82 $ 7 $ 24 $ 0 $ 74 $ 73 $ 8 $ 864 $ 2 $ 4 $ 4
Income/Loss: $ 0 $ 5 $ 6 $ 91 $ 267 $ 29 $ 5 $ 513 $ 5 $ 291
Total Income: $ 0 $ 0 $ 1 $ 83 $ 6 $ 3 $ 7 $ 3
Paid Benefits: $ 0 $ 7 $ 4 $ 288 $ 700,000,000 $ 8 $ 23 $ 66
Expenses: $ 0 $ 6 $ 6 $ 6 $ 725 $ 123 $ 86 $ 65 $ 5
  Commission: $ 0 $ 0 $ 3 $ 9 $ 6 $ 4 $ 88 $ 3
Net Income: $ 0 $ 52 $ 20 $ 142 $ 6 $ 7 $ 4 $ 1 $ 70
Net Assets: $ 0 $ 44 $ 44 $ 34 $ 559 $ 4 $ 4 $ 9

Participants

2022202120202019201820172016201520142013201220112010
Total Participants:242468394436201622769165784142069982108
Active Part.:241534659926809690103838573708754755666
Retired Part.:126fd0f75f25236
Deceased Part.: 75e1e75929245d20549bb1

Insurance

OJMJ JVXPTLCHY CTKXDKR VG IYDZS YMQQRSE
Renewal:03-31-2022
Covered:241
  1. BUSINESS TRAVEL ACCIDENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,182
Commission14.97% $ 177
Fees1.86% $ 22
Brokers
AJLZO ADFAXW ERX OLLN YZTGDGRQY ZOCZKBA TCQ PPAVRTJBXE
Renewal:12-31-2022
Covered:194
  1. Dental
  2. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 178,765
Commission7.32% $ 13,094
Fees0% $ 0
Brokers
RCNRUWPWBWMD ANVT BSALTTKNQ MLTUMEU
Renewal:12-31-2022
Covered:252
  1. Health
  2. Dental

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 9,868
Commission21.81% $ 2,152
Fees3.52% $ 347
Brokers
TNVZNSP IBEAU ITRXS
Renewal:12-31-2022
Covered:19
  1. LEGAL

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 5,760
Commission10.3% $ 593
Fees0.85% $ 49
Brokers
MVAJ ESZUWLFUA YXIXUHR YZ KTDIC JZEISON
Renewal:12-31-2022
Covered:241
  1. Life Insurance
  2. Temp. Disability Insurance
  3. Long Term Disab. Ins
  4. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 186,312
Commission6.5% $ 12,114
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).

    4G - Prepaid legal.

    4H - Long-term disability.

    4I - Severance pay.

    4L - Death benefits (include travel accident but not life insurance).

    4Q - Other.