FEDERAL STONE INDUSTRIES INC

142 WATER ST
THURMONT, MD 21788

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.
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 72% 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.

  • 0% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 21.1% of the market.
Good

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 LCM
2022
05-08-2022

1.955
(Current: 2.092)
2021
01-04-2021

1.400
2020
10-22-2019

1.350
2019

-
2017

1.620
2016

1.422
2015

1.381

Contacts

Wqnrwez Swrpvvimxd
Vice President Sales and Marketing
(880) 453-4676
ckfptmzvfxq@jzhtcoydiqve.rmf

R Jcxbusmyzz
President
(985) 095-2490
d7a a

ITAZJ WDASLVTIUS
Benefits Admin
(382) 719-1706
b122e

Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014201320122011
BOY Assets: $ 1,422,368 $ 8,769,918 $ 6,304,062 $ 8,028,955 $ 2,331,092 $ 4,440,946 $ 2,902,056 $ 4,114,993 $ 7,720,821 $ 4,350,398 $ 1,067,902
Liabilities: $ 0 $ 192 $ 70 $ 787 $ 4 $ 5 $ 81 $ 794 $ 70
EE Contrib: $ 77,763 $ 90,582 $ 42,994 $ 39,189 $ 89,852 $ 24 $ 84,747 $ 34,615 $ 8 $ 2,291 $ 5
Emp Contrib: $ 35,000 $ 485,725 $ 880,132 $ 559,592 $ 51,697 $ 91,095 $ 950,860 $ 11,653 $ 55 $ 7 $ 2,468
Income/Loss: $ 403,135 $ 67,002 $ 68,814 $ 704,539 $ 784,721 $ 77,052 $ 50,662 $ 316,580 $ 45,773 $ 87,537($ 6,838)
Total Income: $ 515,898 $ 33,590 $ 795,494 $ 408,109 $ 57,835 $ 499,058 $ 455,916 $ 83,572 $ 29,366 $ 55,350($ 4,489)
Paid Benefits: $ 57,637 $ 733,058 $ 6,229 $ 40,523 $ 127,678 $ 640,214 $ 29,620 $ 8 $ 85 $ 583
Expenses: $ 0 $ 2 $ 4 $ 9 $ 798 $ 83 $ 1
  Commission: $ 7,288 $ 8,431 $ 1,714 $ 381 $ 9,446 $ 798 $ 320 $ 1 $ 5 $ 0 $ 61
Net Income: $ 450,973($ 777,574) $ 807,330($ 59,450)($ 16,575)($ 531,147) $ 111,508 $ 321,725 $ 20,248 $ 58,876($ 2,901)
Net Assets: $ 1,873,341 $ 456,659 $ 771,452 $ 4,773,252 $ 4,585,816 $ 7,720,991 $ 867,466 $ 4,411,627 $ 7,319,946 $ 4,898,259 $ 4,053,070

Participants

20212020201920182017201620152014201320122011
Total Participants:2373246418358135674461
Active Part.:1436160170857c9ede4dc
Retired Part.:99acdfc5a6f3d99305
Deceased Part.:a7dd98bb9917bb4074bd8091

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    2E - Profit-sharing

    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.


OSHA