SUMITOMO ELECTRIC CARBIDE INC

2841 RIDGE CROSSING COURT
HARRISBURG, NC 28075

Talking Points

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 in-line with peers, in the 67th percentile.
  • 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 Higher than 57% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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.

  • 12% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 0.6% 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 Exp. Mod Carrier Premium LCM
2023

1.407
2023

2.858
2023

1.608
2023

-
2023

1.769
2023

1.948
2023

1.825
2023

-
2023

-
2023

2.111
2023

-
2023

1.622
2023

1.631
2023

1.500
2023

1.469
2023

1.429
2023

1.746
2023

2.140
2023

-
2023

1.460
2023

1.680
2022

2.858
2022

-
2022

1.608
2022

1.770
2022

-
2022

-
2022

1.825
2022

-
2022

-
2022

-
2022

-
2022

-
2022

1.620
2022

1.631
2022

1.500
2022

1.469
2022

1.429
2022

1.746
2022

2.140
2022

-
2022

1.460
2022

1.680
2021

2.858
2021

-
2021

1.769
2021

1.608
2021

-
2021

-
2021

1.825
2021

-
2021

1.681
2021

-
2021

-
2021

2.076
2021

1.620
2021

1.631
2021

1.500
2021

1.469
2021

1.429
2021

1.746
2021

1.544
2021

-
2021

1.591
2020

2.575
2020

-
2020

1.769
2020

-
2020

-
2020

1.825
2020

-
2020

1.681
2020

-
2020

2.076
2020

1.631
2020

1.500
2020

1.429
2020

1.746
2020

1.544
2020

-
2020

1.464
2020

1.591
2020

-
2019

-
2019

-
2019

-
2019

1.825
2019

1.681
2019

-
2019

1.620
2019

1.631
2019

1.500
2019

1.429
2019

1.769
2019

1.544
2019

1.464
2019

2.397
2019

1.591
2019

1.214
2018

-
2018

-
2018

-
2018

1.825
2018

1.681
2018

-
2018

-
2018

1.631
2018

-
2018

1.429
2018

-
2018

-
2018

1.544
2018

1.406
2018

2.397
2017

-
2017

-
2017

-
2017

1.462
2017

-
2017

1.631
2017

-
2017

1.429
2017

-
2017

1.544
2017

-
2017

1.406
2017

2.397
2017

-
2016

-
2016

-
2016

-
2016

1.462
2016

-
2016

-
2016

-
2016

-
2016

-
2016

1.468
2016

-
2016

1.406
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

1.471
2015

-
2015

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014
01-01-2014

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013
05-01-2012

-
2013
01-01-2013

-
2012

-
2012

-
2012

-
2012

-
2012

-
2012
01-01-2012

-
2011

-
2011

-
2011
01-01-2011

-
2010

-
2010
01-01-2010

-
2009

-
2009
01-01-2009

-
2009
04-01-2009

-

Contacts

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Responsible Managing Employee
(858) 338-3127
295a

RUGBVSMW HCMEDNY
Officer
(168) 400-6472
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Officer
(627) 383-4991
2a363

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Responsible Managing Employee
(552) 174-5419
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Responsible Managing Employee
(871) 637-0513
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Rvdfbe P. Loqtod
Senior Vice President Sales
(601) 386-8341
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Domain Registrant
(858) 745-7262
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Domain Registrant
(748) 687-4717
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Xmkm Usfyiuu
President
(376) 142-5826
955

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President
(283) 466-1917
jyblii@jqaiyllp.zse

RZMHSV E. NEAHPYC
Benefits Admin
(361) 961-7956
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President
(955) 812-2330
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(182) 461-4173
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President
(580) 728-6333
3965

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President & Chief Executive Offi
(483) 707-9765
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Treasurer
(497) 412-9832
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Benefits Admin
(097) 825-7110
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Benefits Admin
(042) 810-1965
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Benefits Admin
(566) 076-4052
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Benefits Admin
(802) 547-6105
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Benefits Admin
(750) 249-3180
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Wipf, Ayu
Domain Registrant
(925) 979-7493
yjzo@ABENNSCINFR.AWB

Hafk Gonoe
Branch Manager
(923) 894-7596
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Domain Registrant
(283) 953-0861
mfcm@bxngwyjwhoz.fuk

JGLZT Z. KHMKFSB
Benefits Admin
(270) 067-2443
56b99

ISHEN H. TOGDBGS
Benefits Admin
(395) 128-3995
993

VZHMZS E PGJROT
Benefits Admin
(400) 896-3471
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BFMTWPU FZQOOTJW
Benefits Admin
(232) 573-4877
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MTYXCZJBM OTSUWCV
Benefits Admin
(225) 029-3060
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Benefits Admin
(254) 135-2722
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Domain Registrant
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Benefits Admin
(860) 928-3102
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Benefits Admin
(586) 261-5922
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Benefits Admin
(883) 704-7831
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Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015201420132012
BOY Assets: $ 186,784,819 $ 484,090,317 $ 994,749,168 $ 823,454,848 $ 606,016,770 $ 234,556,540 $ 460,770,723 $ 788,398,698 $ 115,225,357 $ 631,341,546
Liabilities: $ 0 $ 63,353 $ 56,623 $ 75 $ 2 $ 91 $ 4
EE Contrib: $ 9,400,801 $ 3,527,718 $ 2,637,635 $ 4,335,065 $ 196,954 $ 5,187,038 $ 8,605,337 $ 7,254,187 $ 7,498,302 $ 7,672,695
Emp Contrib: $ 3,520,597 $ 140,705 $ 7,349,797 $ 5,235,559 $ 3,174,102 $ 5,355,199 $ 788,562 $ 6,844,198 $ 7,498,419 $ 2,464,847
Income/Loss: $ 21,105,973 $ 19,214,421 $ 43,634,754($ 6,077,462) $ 71,268,447 $ 8,305,493($ 674,305) $ 9,944,849 $ 36,965,963 $ 98,429,710
Total Income: $ 36,729,847 $ 12,059,523 $ 53,332,837 $ 4,255,147 $ 50,108,151 $ 32,709,179 $ 8,406,621 $ 58,726,580 $ 8,775,429 $ 3,958,171
Paid Benefits: $ 14,872,371 $ 68,397,031 $ 15,052,780 $ 2,740,656 $ 9,572,598 $ 57,165,039 $ 4,961,462 $ 5,491,974 $ 9,620,995 $ 4,074,450
Expenses: $ 0 $ 6 $ 440 $ 2 $ 4
  Commission: $ 250,144 $ 710,371 $ 814,395 $ 93,460 $ 984,131 $ 938,137 $ 672,390 $ 686,268 $ 30,776 $ 334,770
Net Income: $ 21,539,445 $ 67,625,365 $ 9,622,881($ 7,512,404) $ 90,793,740 $ 9,567,477 $ 665,769 $ 6,788,770 $ 99,627,758 $ 98,473,745
Net Assets: $ 208,324,264 $ 916,625,259 $ 89,558,836 $ 297,893,396 $ 403,665,759 $ 617,382,839 $ 457,893,475 $ 578,504,059 $ 526,684,383 $ 929,512,228

Participants

2021202020192018201720162015201420132012
Total Participants:1665991798277886594520954720672198697449
Active Part.:1311108848360388210735626027871719124477
Retired Part.:8202109637981
Deceased Part.:cefa0a4980645c5af56e4

Insurance

GIHVMZHDJN FGWMLCSFAJ BGWRJSQKA QGW DLEFPWR ICKTPGO
Renewal:12-31-2021
Covered:1665
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

GBEHLTUXNP YMIWHERIEG INWSDQAEV QXU
QQCKJFRXIW UETXJRVRDP UKFAVLDLJ XEWContract Administrator
Recordkeeping and information management (computing, tabulating, data processing, etc.)
Participant loan processing
Direct payment from the plan
Recordkeeping fees
Account maintenance fees
Compensation:$165,908
Relation:NONE
OKVYNJJNHSHV JEJAAGCU MBNInvestment advisory (plan)
Compensation:$61,096
Relation:NONE
FPZ MSNTGN WZF IBYPZLegal
Compensation:$18,955
Relation:NONE

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    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)).

    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

2021202020192018201720162015201420132012
BOY Assets: $ 0 $ 6 $ 2 $ 6 $ 84 $ 6 $ 6 $ 6 $ 82
Liabilities: $ 0 $ 8 $ 5 $ 5 $ 49 $ 2
EE Contrib: $ 0 $ 20 $ 40 $ 92 $ 1 $ 8 $ 80
Emp Contrib: $ 0 $ 8 $ 0 $ 7
Income/Loss: $ 0 $ 71 $ 2 $ 76 $ 66 $ 7 $ 1
Total Income: $ 0 $ 9 $ 6 $ 87 $ 86 $ 4 $ 4 $ 0
Paid Benefits: $ 0 $ 90,000 $ 32 $ 504 $ 109
Expenses: $ 0 $ 4 $ 680 $ 74 $ 2
  Commission: $ 0 $ 8 $ 7 $ 270 $ 4 $ 0 $ 6 $ 6 $ 2
Net Income: $ 0 $ 9 $ 1 $ 785
Net Assets: $ 0 $ 45 $ 7 $ 4 $ 32 $ 42

Participants

2021202020192018201720162015201420132012
Total Participants:2851368745115601848797340880289726424112
Active Part.:2851905072788257943043134968374697363090
Retired Part.:c5a5a1515575 5
Deceased Part.:eaf6a52f5cd5e5076d

Insurance

WTLSLFT DHORRNMMS YFDUWZK
Renewal:12-31-2021
Covered:2851
  1. BUSINESS TRAVEL ACCIDENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 13,474
Commission25% $ 3,369
Fees0% $ 0
Brokers

Providers

No Providers

Features

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


OSHA

Motor Carrier