FOSTER SMOOTHIE 818 LLC

264 ROBERTE C DANIEL JR.
AUGUSTA, GA 30909

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
  • Premium increase and carrier group change may indicate a claim occurrence.
Needs Attention

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Higher than 79% of peers.
  • In the last year, premium Increased by 21%. While peers Increased an average of 5%.
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 5th percentile compared to peers.
  • In the last year, LCM Decreased by 31%. While peers Increased an average of 7%.
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.

  • 6% of peers have changed carriers since last year. Those who did, saw a 56.4% decrease in premium vs those who stayed with their current provider had a 9.8% increase, roughly 6x those who stayed with their current provider.
  • Of those who changed carriers, 3.2% decreased their LCM vs those who stayed with their current provider who saw a 8% increase.
  • Current Carrier's market share is in the 99th percentile at 39.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023
05-01-2022

1.233
2023
11-13-2022

1.233
2022
12-20-2021

1.781
2021

1.790
2020

1.790
2019

1.950
2018

1.950
2018
05-21-2017

1.250
2017

1.350

Contacts

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Domain Registrant
(855) 736-6392
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Owner
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Benefits Admin
(450) 258-8341
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Industry Classification

Retirement Benefits

Financials

2020201920182017
BOY Assets: $ 42,265 $ 37,562 $ 12,056 $ 4
Liabilities: $ 0 $ 90 $ 39
EE Contrib: $ 100 $ 63 $ 40,266
Emp Contrib: $ 46 $ 2
Income/Loss: $ 3,306 $ 5,492($ 2,054) $ 3,082
Total Income: $ 3,452 $ 7,273($ 9,846) $ 49,693
Paid Benefits: $ 0
Expenses: $ 0
  Commission: $ 197 $ 173 $ 547 $ 317
Net Income: $ 3,255 $ 1,810($ 1,121) $ 99,156
Net Assets: $ 45,520 $ 64,887 $ 11,295 $ 96,768

Participants

2020201920182017
Total Participants:7579
Active Part.:7850
Retired Part.:a05e3
Deceased Part.:b34b2df

Insurance

No Insurance Coverage

Providers

No Providers

Features

    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.

    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.

    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

    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.

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

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