H.B.Fuller Company

1200 WILLOW LAKE BLVD
SAINT PAUL, MN 55110

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Needs Attention

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 very good. It is in the 18th percentile compared to peers.
  • 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 in-line with peers, in the 43rd percentile.
Average

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.

  • 12% of peers have changed carriers since last year.
  • Of those who changed carriers, 9.9% decreased their LCM vs those who stayed with their current provider who saw a 1.6% increase, a difference of roughly 6x.
  • Current Carrier's market share is in the 1st percentile at 0.2% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

-
2022

-
2022

1.900
2022

-
2022

-
2022

1.530
2022

-
2022

1.488
2022

-
2022

-
2022

1.956
2022

-
2022

1.504
2022

-
2022

-
2022

-
2022

1.699
2022

-
2022

1.546
2022

1.705
2021

-
2021

-
2021

1.900
2021

-
2021

-
2021

1.530
2021

-
2021

-
2021

1.489
2021

-
2021

-
2021

1.959
2021

1.869
2021

-
2021

1.504
2021

-
2021

-
2021

-
2021

1.699
2021

-
2021

1.546
2021

1.514
2020

-
2020

-
2020

1.900
2020

-
2020

-
2020

1.530
2020

-
2020

-
2020

-
2020

1.489
2020

-
2020

-
2020

1.959
2020

1.808
2020

-
2020

1.504
2020

-
2020

-
2020

-
2020

-
2020

1.530
2020

-
2020

1.546
2020

1.514
2019

-
2019

-
2019

1.900
2019

-
2019

-
2019

1.530
2019

1.890
2019

-
2019

1.384
2019

-
2019

1.890
2019

-
2019

-
2019

1.504
2019

-
2019

-
2019

-
2019

1.530
2019

-
2019

1.504
2019

1.514
2018

-
2018

-
2018

-
2018

-
2018

1.384
2018

-
2018

-
2018

1.444
2018

-
2018

1.359
2018

-
2018

1.441
2018

1.900
2018

-
2018

-
2018

1.384
2018

-
2018

-
2018

1.504
2018

-
2018

-
2018

1.530
2018

-
2018

1.504
2018

1.900
2018
03-01-2018

-
2018
03-01-2018

-
2018
03-01-2018

-
2018
03-01-2018

-
2018
03-01-2018

1.530
2018
03-01-2018

-
2018
03-01-2018

-
2018
03-01-2018

1.530
2017

-
2017

-
2017

-
2017

-
2017

1.530
2017

-
2017

-
2017

-
2017

1.371
2017

-
2017

-
2017

-
2017

1.360
2017

-
2017

1.359
2017

-
2017

1.530
2017

1.900
2017

-
2016

-
2016

-
2016

-
2016

-
2016

1.300
2016

-
2016

1.825
2016

-
2016

1.243
2016

2.264
2016

1.530
2016
12-01-2016

2.163
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

1.825
2015

-
2015

1.896
2015

-
2015

2.264
2015

-
2015

-
2015

-
2015

1.360
2015

1.530
2015

-
2015

1.800
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

1.243
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014
04-01-2013

-
2014
07-31-2013

-
2014
07-31-2013

-
2014
07-31-2013

-
2014
07-31-2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013
05-15-2013

-
2013
12-01-2013

-
2013
12-13-2013

-
2012

-
2012

-
2012

-
2012

-
2012

-
2012

-
2012

-
2012

-
2012
05-15-2012

-
2012
12-01-2012

-
2012
12-13-2012

1.611
2012
12-13-2012

-
2011

-
2011

-
2011
05-15-2011

-
2011
05-15-2011

-
2011
12-01-2011

-
2011
01-14-2012

-
2010

-
2010

-
2010

-
2010
12-01-2010

-
2009

-
2009

-
2009

-
2009
12-01-2009

-

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Industry Classification

Retirement Benefits

Financials

202220212020201920182017201620152014201320122011
BOY Assets: $ 14,249,919 $ 48,947,414 $ 19,185,479 $ 79,309,593 $ 81,698,092 $ 47,746,441 $ 35,722,239 $ 24,363,178 $ 3,092,365 $ 7,788,819 $ 95,138 $ 2,529,891
Liabilities: $ 0 $ 4 $ 83 $ 8 $ 8 $ 8 $ 7
EE Contrib: $ 96,570 $ 718,298 $ 195,960 $ 890,335 $ 741,462 $ 981,026 $ 263,777 $ 742,955 $ 588,112 $ 536,247 $ 831,635 $ 574,047
Emp Contrib: $ 166,703 $ 898,935 $ 330,334 $ 686,066 $ 91,782 $ 228,814 $ 700,452 $ 405,434 $ 413,400 $ 573,186 $ 581,210 $ 793,508
Income/Loss:($ 1,823,554) $ 7,130,898 $ 332,096 $ 163,650 $ 59,940 $ 5,788,935 $ 8,616 $ 652,395 $ 4,298,198 $ 680,804 $ 71,838 $ 4,628,502
Total Income:($ 1,560,281) $ 2,894,391 $ 651,684 $ 1,647,556 $ 577,434 $ 3,368,546 $ 775,842 $ 902,131 $ 805,212 $ 4,450,784 $ 924,656 $ 1,791,136
Paid Benefits: $ 329,221 $ 6,149,348 $ 4,902,193 $ 9,718,835 $ 2,101,576 $ 8,990 $ 840,171 $ 385,428 $ 558,495 $ 27,825 $ 997,677 $ 847,003
Expenses: $ 0 $ 67 $ 3 $ 267 $ 6 $ 78 $ 4
  Commission: $ 17,423 $ 51,546 $ 53,534 $ 309 $ 1,045 $ 96 $ 4 $ 6
Net Income:($ 1,906,925) $ 7,100,288($ 158,518) $ 86,777 $ 78,145 $ 2,022,063 $ 47,469($ 332,820) $ 3,999,092 $ 923,980 $ 565,165 $ 6,316,016
Net Assets: $ 12,342,994 $ 22,869,180 $ 23,269,451 $ 67,494,635 $ 1,112,930 $ 15,506,803 $ 61,732,505 $ 50,643,907 $ 99,681,889 $ 45,094 $ 3,387,129 $ 9,785,496

Participants

202220212020201920182017201620152014201320122011
Total Participants:130447309843814757858398
Active Part.:115950565663637278569226
Retired Part.:5598bd182284081
Deceased Part.:d25a0e47a8814920b

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.

    2H - Partial participant-directed account plan - Participants have the opportunity to direct the investment of a portion of 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.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    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

20212020201920182017201520142013
BOY Assets: $ 0 $ 9 $ 8 $ 0 $ 6 $ 5 $ 6
Liabilities: $ 0 $ 4 $ 8 $ 478 $ 27 $ 902 $ 1
EE Contrib: $ 0 $ 8 $ 81
Emp Contrib: $ 0 $ 50 $ 35 $ 3 $ 85 $ 503
Income/Loss: $ 0 $ 4 $ 4 $ 2 $ 5 $ 7 $ 4
Total Income: $ 0 $ 100,000,000 $ 7 $ 57 $ 627
Paid Benefits: $ 0 $ 3 $ 327 $ 806 $ 8 $ 7
Expenses: $ 0 $ 85 $ 4 $ 3
  Commission: $ 0 $ 0 $ 0 $ 9 $ 666 $ 6
Net Income: $ 0 $ 2 $ 81 $ 1 $ 9 $ 17 $ 4
Net Assets: $ 0 $ 68 $ 3 $ 45 $ 9

Participants

20212020201920182017201520142013
Total Participants:136671157511910022688060
Active Part.:136959520911740133672913
Retired Part.:18eb23f8d5947
Deceased Part.:995411247a798e19

Insurance

QZJTDJ OA JIJPS OSRX VRXJWTRLO OZBVIBO
Renewal:12-31-2021
Covered:136
  1. Life Insurance
  2. Long Term Disab. Ins
  3. ACCIDENTAL DEATH AND DISMEMBERMENT,EMPLOYEE ASSISTANCE PROGRAM,CRITICAL ILLNESS,ACCIDENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 81,195
Commission16.31% $ 13,246
Fees7% $ 5,686
Brokers

Providers

No Providers

Features

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

    4B - Life insurance.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

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

    4Q - Other.


OSHA

Motor Carrier