TIMAC AGRO USA INC

PO BOX 888
READING, PA 19607

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 47th percentile.
  • Mod decreased by more than 75% of peers.
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 71% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 7%. While peers Increased an average of 3%.
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.

  • 11% of peers have changed carriers since last year.
  • Of those who changed carriers, 0.5% increased their LCM vs those who stayed with their current provider who saw a 3.2% increase.
  • Current Carrier's market share is in the 75th percentile at 1.4% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.790
2023

2.030
2023

2.410
2023

-
2023

1.850
2023

1.939
2023

2.390
2023

2.330
2023

1.941
2023

1.730
2022

1.842
2022

2.396
2022

-
2022

1.604
2022

1.528
2022

-
2022

1.861
2022

1.810
2022

1.903
2022

2.183
2022

1.571
2022

1.629
2022
08-01-2022

1.410
2022
08-01-2022

1.700
2022
09-01-2022

-
2021

1.790
2021

1.625
2021

-
2021

1.528
2021

-
2021

-
2021

1.690
2021

1.768
2021

1.410
2021

1.903
2021

1.700
2021

1.428
2021

1.939
2021

1.361
2021

1.629
2020

-
2020

1.625
2020

-
2020

1.404
2020

-
2020

-
2020

1.614
2020

1.756
2020

1.390
2020

1.792
2020

1.700
2020

1.312
2020

1.679
2020

1.361
2020

1.360
2019

-
2019

1.625
2019

-
2019

1.404
2019

-
2019

1.546
2019

1.693
2019

1.650
2019

-
2019

1.720
2019

-
2019

1.360
2019

1.312
2018

-
2018

-
2018

-
2018

1.320
2018

-
2018

1.599
2018

1.450
2018

1.460
2017

-
2017

-
2017

1.370
2017
08-01-2016

1.370
2017
05-04-2017

-
2016

-
2016

-
2016

-
2016

-
2016

1.516
2016

-
2016

1.445
2016
08-01-2016

1.986
2015

-
2015

-
2015

-
2015

-
2015

1.986
2015

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014
08-01-2013

-
2014
08-01-2013

-
2014
09-13-2013

-
2013

1.467
2013

-
2013

-
2013

-
2013
09-13-2012

-
2013
09-13-2012

-
2012

-
2012
06-01-2012

-
2012
06-01-2012

-
2011

-
2011
03-01-2011

-
2010

-
2009

-

Contacts

Ofblo Txii
Manager
(335) 791-0729
266

DNG Bsdfcd
Chief Executive Officer
(745) 297-1629
066

LPFAJ AYHXQ
Benefits Admin
(484) 243-7554
72b

TOLHZ S ZSKTV
Benefits Admin
(774) 463-6984
7036

QUCNH ZDFQS
Benefits Admin
(670) 483-1520
36020

FRQXA I EAUDL
Human Resources Manager
(955) 560-2183
Ztvrw.Bduzh@jt.pzuazulvu.fym

IBVKO EVNFY
HR
(786) 824-6106
ktfazr@tr.uedxuzlxw.mkf

0
8b5
poblbhq@lc.cnzrseokn.zrv

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 5,011,956 $ 307,704 $ 1,473,737 $ 2,112,798 $ 3,524,804 $ 3,495,890 $ 435,348 $ 294,421 $ 77,284 $ 70,184 $ 678,030 $ 663,926
Liabilities: $ 0 $ 63 $ 20 $ 2 $ 8 $ 87 $ 8 $ 88
EE Contrib: $ 536,732 $ 111,654 $ 38,277 $ 971,879 $ 399,331 $ 879,108 $ 64,461 $ 75,327 $ 80,616 $ 41,365 $ 44,225 $ 38,379
Emp Contrib: $ 189,999 $ 460,875 $ 432,336 $ 406,799 $ 26,920 $ 12,306 $ 93,487 $ 15,988 $ 89,971 $ 39,729 $ 19,242 $ 54,048
Income/Loss: $ 714,021 $ 252,369 $ 893,153($ 13,724) $ 720,008 $ 73,219($ 45,359) $ 95,803 $ 438,007 $ 28,248($ 86,992) $ 90,257
Total Income: $ 1,525,898 $ 1,955,756 $ 6,562,899 $ 138,852 $ 826,462 $ 238,092 $ 612,241 $ 130,612 $ 344,097 $ 329,910 $ 19,680 $ 945,967
Paid Benefits: $ 522,240 $ 19,014 $ 229,835 $ 281,856 $ 38,082 $ 12,778 $ 9 $ 687,824 $ 332,317 $ 1,466 $ 44,656 $ 16,261
Expenses: $ 0 $ 15 $ 61 $ 3 $ 3,275 $ 949 $ 80 $ 673 $ 990 $ 27 $ 202 $ 7,727
  Commission: $ 28,732 $ 51,604 $ 64,681 $ 96,567 $ 557 $ 1 $ 8 $ 7 $ 7 $ 1
Net Income: $ 974,926 $ 8,275,246 $ 9,915,184 $ 173,059 $ 532,916 $ 744 $ 272,609 $ 83,538 $ 776,952 $ 675,047($ 92,625) $ 61,431
Net Assets: $ 5,986,882 $ 9,611,253 $ 1,760,727 $ 9,225,175 $ 6,024,999 $ 2,898,440 $ 5,609,364 $ 5,188,732 $ 580,286 $ 124,490 $ 892,987 $ 140,357

Participants

202120202019201820172016201520142013201220112010
Total Participants:18401263717986911143035485029
Active Part.:16484104093739237273856d10d1a
Retired Part.:e2bac29fe2af271fbe72d
Deceased Part.:35838 bd8e69df25 a

Insurance

No Insurance Coverage

Providers

KQB ODIMQJOF BALEY, GZF
GEQZLOVEU YKDAUBUQI MXIUF, UTP.Investment advisory (plan)
Direct payment from the plan
Compensation:$16,042
Relation:NONE
PDP SIQFYGQH RSUZC, IHR.Participant loan processing
Other (specify)
Recordkeeping fees
Direct payment from the plan
Recordkeeping and information management (computing, tabulating, data processing, etc.)
Investment management fees paid indirectly by plan
'Soft dollar' commissions
Compensation:$12,689
Relation:NONE

Features

    2E - Profit-sharing

    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.

    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.

    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.

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

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

Health Benefits

Financials

20212020201920182017
BOY Assets: $ 25,437 $ 38,337 $ 7 $ 7 $ 8
Liabilities: $ 190,652 $ 273,052 $ 7 $ 7 $ 5
EE Contrib: $ 499,954 $ 83,708 $ 47 $ 1 $ 30
Emp Contrib: $ 1,256,038 $ 95,766 $ 236 $ 23
Income/Loss: $ 0 $ 7 $ 3 $ 3 $ 5
Total Income: $ 1,756,166 $ 302,171 $ 9 $ 5
Paid Benefits: $ 1,777,854 $ 798,263 $ 16
Expenses: $ 0 $ 3 $ 5 $ 60
  Commission: $ 96,729 $ 5,875 $ 56 $ 60,000,000
Net Income:($ 118,417)($ 7,722) $ 6 $ 6 $ 8
Net Assets:($ 92,980) $ 55,103 $ 585 $ 933

Participants

20212020201920182017
Total Participants:122361775041214
Active Part.:122628573813313
Retired Part.:2700
Deceased Part.:d9cfb

Insurance

GUW FCVVMXRJ LEUA UFALUGCDW EGYIRYH VA YGGRQTN
Renewal:12-31-2021
Covered:122
  1. Dental
  2. Life Insurance
  3. Temp. Disability Insurance
  4. Long Term Disab. Ins
  5. AD&D, OPTIONAL LIFE & AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 157,987
Commission7.23% $ 11,423
Fees1.5% $ 2,363
Brokers
QCBBPG QUROPPFD KS TJZFJXQ
Renewal:12-31-2021
Covered:113
  1. Vision

Retention: $ 5,409
Claims: $ 0
Loss Ratio:0
Exp Rated Premium $ 14,735
Non-Exp Rated Premium: $ 0
Commission3.04% $ 448
Fees0% $ 0
Brokers
ZVKRLKB TYOBBYIEZAB SZAGZHU
Renewal:12-31-2021
Covered:109
  1. Stop Loss

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 357,536
Commission0% $ 0
Fees0% $ 0
THEQXPHN BFAR
Renewal:12-31-2021
Covered:0
  1. TELEMEDICINE

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

Providers

KMCCZ RZJBSC SFFMA YCR.
999 BERKSHIRE BOULEVARD SUITE 160
WYOMISSING, PA 19610
Insurance agents and brokers
Compensation:$44,747
Relation:BROKER
DLPJKGLOClaims processing
Compensation:$25,740
Relation:ADMIN
GYN VPFYVKW WDZNX, PEOInsurance agents and brokers
Compensation:$19,479
Relation:BROKER
EYEBGVLPDGH 0Other services
Compensation:$6,763
Relation:PATIENT ADVOCATE

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.

Motor Carrier