MEGACORP LOGISTICS LLC

1011 ASHES DR
WILMINGTON, NC 28405

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

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 67% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCM Increased by more than 75% of peers.
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.

  • 28% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 28% of peers who changed carriers, 19.2% decreased their LCM vs those who stayed with their current provider who saw a 0.8% increase, a difference of roughly 23x. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 75th percentile at 11.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

-
2023

1.802
2022

-
2022

1.643
2022

1.667
2021

1.643
2021

1.667
2021
03-19-2021

-
2020

-
2020

-
2020

1.159
2020

1.643
2020

1.667
2020
09-21-2020

-
2019

-
2019

1.776
2019
07-21-2019

1.907
2018

1.907
2018

1.018
2018

2.255
2018

1.018
2018

2.316
2018
07-21-2017

1.907
2018
07-21-2017

-
2017

2.118
2017

0.971
2017

1.866
2016

-
2016

0.832
2016

1.088
2015

-
2014

-
2014

-
2013

-

Contacts

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Human Resources Director
(922) 217-7646
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Manager
(115) 542-9037
azst@rfedxprhuohucqamq.kqo

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Benefits Admin
(920) 036-3401
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Benefits Admin
(952) 103-7129
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(391) 477-0607
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 10,010,954 $ 1,235,859 $ 9,042,111 $ 2,425,186 $ 9,580,109 $ 8,687,183 $ 943,980 $ 892,835 $ 994,324 $ 611,423 $ 58,260 $ 3,728
Liabilities: $ 0 $ 1 $ 10 $ 28 $ 2 $ 9 $ 1 $ 5
EE Contrib: $ 2,835,705 $ 7,991,853 $ 5,860,385 $ 9,582,014 $ 651,470 $ 455,762 $ 992,050 $ 156,703 $ 773,205 $ 189,986 $ 50,497 $ 21,261
Emp Contrib: $ 338,292 $ 965,156 $ 988,365 $ 299,596 $ 954,480 $ 28,592 $ 68,302 $ 51,270 $ 70,840 $ 37,155 $ 971 $ 7
Income/Loss: $ 1,782,242 $ 8,034,530 $ 2,936,139($ 593,756) $ 57,278 $ 612,824($ 35,816) $ 45,162 $ 22,813 $ 61,666($ 3,498) $ 1,131
Total Income: $ 4,969,578 $ 199,656 $ 4,545,645 $ 855,213 $ 7,792,567 $ 106,943 $ 169,722 $ 71,366 $ 366,275 $ 928,087 $ 15,760 $ 98,870
Paid Benefits: $ 599,166 $ 353,301 $ 134,266 $ 46,669 $ 409,002 $ 31,523 $ 614,295 $ 30,251 $ 20,494 $ 44,544 $ 2,812 $ 4,375
Expenses: $ 0 $ 3 $ 9 $ 7 $ 336 $ 4
  Commission: $ 70,336 $ 44,345 $ 30,739 $ 4,298 $ 8,992 $ 57,032 $ 7,841 $ 7,216 $ 1,144 $ 394 $ 208 $ 59
Net Income: $ 4,300,076 $ 2,000,959 $ 6,042,347 $ 7,994,181 $ 2,092,459 $ 729,782 $ 116,969 $ 478,024 $ 608,830 $ 324,071 $ 47,403 $ 14,540
Net Assets: $ 14,311,030 $ 3,715,136 $ 8,899,731 $ 960,244 $ 3,312,281 $ 3,252,327 $ 6,772,116 $ 619,954 $ 201,820 $ 974,925 $ 940,126 $ 6,502

Participants

202120202019201820172016201520142013201220112010
Total Participants:43816440886288488123715360298062
Active Part.:382981476029245026163404e9d9
Retired Part.:da54f528002e557982280e
Deceased Part.:922e 9b136025fd1b5

Insurance

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Renewal:12-31-2021
Covered:412
PENSION_EOY_SEP_ACCT_AMT: 13330915PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 59,374
Fees $ 6,069
Brokers

Providers

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VACGDICTAXSZ HTIY JTVMMJWEA NEQRDUYRecordkeeping and information management (computing, tabulating, data processing, etc.)
Participant loan processing
Investment management fees paid indirectly by plan
Float revenue
Recordkeeping fees
Other insurance wrap fees
Compensation:$63,836
Relation:RECORDKEEPER
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PO BOX 2159
JAMESTOWN, NC 27282
Recordkeeping and information management (computing, tabulating, data processing, etc.)
Participant loan processing
Recordkeeping fees
Compensation:$6,500
Relation:RECORDKEEPER

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.

    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.

    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.

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

Health Benefits

Financials

2021202020192018201720162015
BOY Assets: $ 0 $ 7
Liabilities: $ 0 $ 912 $ 12
EE Contrib: $ 0 $ 757 $ 51 $ 0 $ 677 $ 2 $ 79
Emp Contrib: $ 0 $ 1
Income/Loss: $ 0 $ 4 $ 78 $ 9
Total Income: $ 0 $ 48 $ 6 $ 8 $ 3
Paid Benefits: $ 0 $ 82 $ 8 $ 3 $ 9 $ 44
Expenses: $ 0 $ 9 $ 99 $ 5 $ 3
  Commission: $ 0 $ 6 $ 9 $ 4 $ 9 $ 6 $ 89
Net Income: $ 0 $ 3 $ 39 $ 2 $ 2
Net Assets: $ 0 $ 800 $ 14 $ 7

Participants

2021202020192018201720162015
Total Participants:350061366020026162597
Active Part.:350646629322216317869
Retired Part.:2e115443d53fd
Deceased Part.:5d0d3992 5f79a

Insurance

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Renewal:05-31-2021
Covered:600
  1. Dental
  2. Vision
  3. Life Insurance
  4. Temp. Disability Insurance
  5. Long Term Disab. Ins
  6. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 349,775
Commission17.11% $ 59,830
Fees7.82% $ 27,343
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).

    4H - Long-term disability.

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