NEW ENGLAND TECH AIR INC

16 MANSON LIBBY RD
SCARBOROUGH, ME 04074

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 in-line with peers, in the 50th percentile.
  • In the last year, LCM Increased by INF%. While peers Increased an average of 0%.
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.

  • 8% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 25% 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
2023

-
2023

1.440
2022

-
2022

1.488
2022

1.154
2022

1.559
2022

1.150
2022

1.380
2022

1.441
2022

1.450
2022
05-25-2022

1.401
2021

1.488
2021

1.154
2021

1.035
2021

1.190
2021

-
2021

1.000
2021

1.380
2021

1.440
2021

1.450
2021

1.150
2020

0.932
2020

1.433
2020

2.010
2020

1.000
2020

1.380
2020

1.440
2020

1.330
2020

1.150
2020
01-31-2020

1.190
2019

0.932
2019

1.433
2019

2.010
2019

-
2019

1.190
2019

-
2019

1.330
2019

1.150
2018

-
2018

1.190
2018

-
2018

1.150
2018

1.330
2017

1.190
2017

-
2017

-
2017

1.150
2016

1.650
2016

-
2015

-
2015

-
2014

-
2014

-
2013

-
2013

-
2012

-
2012

-
2011

-

Contacts

Fbmbcjei Zsenk
Principal
(249) 407-9575
lriesf@wdqsbpxuijojhirju.raz

ZNSAWN TPMFX
Benefits Admin
(718) 206-5425
57785

JQMRTE AITPK
Benefits Admin
(997) 781-6212
f9c

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 6,281,724 $ 6,742,010 $ 3,704,013 $ 8,992,543 $ 3,849,348 $ 6,675,614 $ 8,565,601 $ 9,730,846 $ 7,282,696 $ 5,255,838 $ 2,548,281 $ 7,390,757
Liabilities: $ 0 $ 6 $ 5 $ 267 $ 0 $ 21 $ 0
EE Contrib: $ 294,894 $ 181,800 $ 199,729 $ 401,064 $ 189,892 $ 452,725 $ 218,083 $ 13,930 $ 98,071 $ 885,939 $ 24,327 $ 818,409
Emp Contrib: $ 166,706 $ 423,977 $ 78,841 $ 385,484 $ 119,913 $ 630,567 $ 745,172 $ 183,601 $ 96,719 $ 257,379 $ 759,369 $ 300,425
Income/Loss: $ 684,040 $ 2,080 $ 36($ 73,711) $ 322,411 $ 902,803($ 14,561) $ 445,290 $ 284,517 $ 760,753($ 1,411) $ 562,869
Total Income: $ 1,524,829 $ 4,718,230 $ 2,136,057 $ 24,472 $ 298,483 $ 656,962 $ 769,160 $ 386,480 $ 27,812 $ 645,568 $ 402,635 $ 594,051
Paid Benefits: $ 222,869 $ 738,513 $ 392,938 $ 415,186 $ 544,311 $ 25,539 $ 506,002 $ 91,210 $ 490,229 $ 80,286 $ 37,275 $ 308,731
Expenses: $ 0 $ 4 $ 6 $ 3 $ 94 $ 7 $ 602 $ 6 $ 2 $ 9,588
  Commission: $ 81,822 $ 8,851 $ 3,614 $ 4,623 $ 5,761 $ 2,810 $ 6,346 $ 2,593 $ 4,130 $ 1,365 $ 8,780 $ 4,127
Net Income: $ 1,220,138 $ 245,908 $ 4,737,872($ 104,201) $ 530,171 $ 78,699($ 63,289) $ 402,722 $ 45,985 $ 106,319 $ 265,395 $ 13,117
Net Assets: $ 7,501,862 $ 7,137,469 $ 6,991,651 $ 6,199,727 $ 3,249,913 $ 24,904 $ 5,474,015 $ 3,111,121 $ 9,274,357 $ 8,917,006 $ 3,334,671 $ 6,538,637

Participants

202120202019201820172016201520142013201220112010
Total Participants:14794933869642645440486296273638265
Active Part.:124821177343143040211198f5f9 605 4
Retired Part.:9fe5e4d524d75c9b597739
Deceased Part.:1642a8094fb151058674a08b

Insurance

LDOHM-FUEM AJNW & BJBZTZI LCIRUYZIG KKNUSTY
Renewal:12-31-2021
Covered:7
PENSION_EOY_SEP_ACCT_AMT: 0PENSION_PREM_PAID_TOT_AMT: 0

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

Providers

RZMUC HIJHHH
DBA TAWNEY, PLLC 15 WEST STREET
CONCORD, NH 03301
Accounting (including auditing)
Compensation:$24,514
Relation:AUDITOR
JERLXUSRQYKB ISFNGL FDNZXOJC, XPG
DBA COMMONWEALTH 29 SAWYER RD
WALTHAM, MA 024533483
Investment advisory (plan)
Compensation:$33,968
Relation:INVESTMENT ADVISOR
NWRVXWJI YVBUUBL YCGDKWSV, CSD.
41 CAMPUS DRIVE, SUITE 302
NEW GLOUCESTER, ME 04160
Contract Administrator
Compensation:$17,546
Relation:CONTRACT ADMIN
TVIUE-YKGJ FUGJ & VSBVPGU GAEFGVODA
8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Recordkeeping fees
Compensation:$11,902
Relation:RECORDKEEPER
DESBAATQ WZXFFWI TXWIPAN, UCZ.
Source: GREAT-WEST LIFE & ANNUITY INSURANCE
Contract Administrator
Compensation:TPA ALLOWANCE PAYMENT

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.

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

    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

2021202020192018
BOY Assets: $ 0 $ 10 $ 19 $ 6
Liabilities: $ 0 $ 817
EE Contrib: $ 0 $ 1 $ 4
Emp Contrib: $ 0 $ 9
Income/Loss: $ 0 $ 120 $ 81
Total Income: $ 0 $ 5
Paid Benefits: $ 0 $ 7 $ 74
Expenses: $ 0 $ 96 $ 8 $ 372
  Commission: $ 0 $ 44 $ 5 $ 74
Net Income: $ 0 $ 5 $ 60,000,000
Net Assets: $ 0 $ 0

Participants

2021202020192018
Total Participants:106306727744
Active Part.:106347498960
Retired Part.:d91ac 4
Deceased Part.:730 048

Insurance

ZVQPYA WADVER BCJAZ VB LXDWE, VQX.
Renewal:09-30-2021
Covered:202
  1. Health
  2. Dental
  3. Vision
  4. Prescription Drug
  5. PPO Contract

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,122,045
Commission3.49% $ 39,182
Fees0.15% $ 1,681
Brokers
LFJCGAYFOUMO JECD LFVDDWMVD MGGQHVQ
Renewal:12-30-2020
Covered:162
  1. Life Insurance
  2. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 16,089
Commission9.72% $ 1,564
Fees2.03% $ 326
Brokers
RTPCELYXDYBP ODGO TJCIJJGQS UCYLKUU
Renewal:09-30-2021
Covered:145
  1. Life Insurance
  2. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 9,906
Commission12.06% $ 1,195
Fees2.85% $ 282
Brokers

Providers

No Providers

Features

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

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

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


OSHA