MEDIN TECHNOLOGIES, INC.

11 JACKSON RD
TOTOWA, NJ 07512

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 58th percentile.
  • Mod 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.

  • 31% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 31% of peers who changed carriers, This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 95th percentile at 15.4% 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 Exp. Mod Carrier LCM
2022

1.234
(Current: 1.446)
2022

-
2021

-
2021

-
2020

-
2020

-
2019

-
2018

-
2017

-

Contacts

Mftg Pckabxtws
Chief Executive Officer
(847) 634-0273
1b554

Industry Classification

Retirement Benefits

Financials

20212020201920182017
BOY Assets: $ 2,494,314 $ 2,530,051 $ 5,618,968 $ 343,594 $ 92
Liabilities: $ 0 $ 4,971 $ 20,185 $ 6 $ 7
EE Contrib: $ 436,913 $ 529,242 $ 279,000 $ 923,817 $ 775,628
Emp Contrib: $ 218,593 $ 15,630 $ 43,077 $ 21,933 $ 1,682
Income/Loss: $ 408,803 $ 61,213 $ 820,200($ 939,741) $ 24,382
Total Income: $ 1,282,943 $ 55,519 $ 266,372 $ 205,835 $ 4,073,069
Paid Benefits: $ 430,968 $ 85,480 $ 640,363 $ 989,111 $ 761
Expenses: $ 0 $ 2 $ 2 $ 6
  Commission: $ 21,318 $ 34,511 $ 24,526 $ 1,544 $ 7,897
Net Income: $ 811,493($ 46,785) $ 494,580 $ 698,413 $ 4,106,386
Net Assets: $ 5,335,296 $ 1,141,467 $ 9,477,445 $ 9,425,651 $ 1,483,398

Participants

20212020201920182017
Total Participants:227125573919146
Active Part.:200373941025634
Retired Part.:156 7ddae942
Deceased Part.:c314ffd12

Insurance

AICOVEOXMS BKZP THLISACXC UKYBAIF
Renewal:12-31-2021
Covered:61
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

FXCUNGUN HQVO XZRQNNAK WLO
707 SKOKIE BLVD STE 400
NORTHBROOK, IL 60062
Investment advisory (plan)
Compensation:$11,392
Relation:INVESTMENT ADVISOR
AHURC-ETSA QAUI & EHVYITK NPEWCABHJ
8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Recordkeeping fees
Compensation:$9,926
Relation:RECORDKEEPER
HOVWSOL LAHDSW VWBEZ, UGF
8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Investment management
Compensation:$299
Relation:INVESTMENT MGMT

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

Participants

2020
Total Participants:126
Active Part.:126
Retired Part.:
Deceased Part.:

Insurance

UWT SQLQIGEO RNGP OHUDINASK IVTKURM QT CPRTAZC
Renewal:10-31-2020
Covered:126
  1. Dental
  2. Vision
  3. Life Insurance
  4. Temp. Disability Insurance
  5. ACCIDENT, CRITICAL ILLNESS, ACCIDENTAL DEATH & DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 92,531
Commission7.79% $ 7,206
Fees7.33% $ 6,785
Brokers
BOXRFHC HHQSQXNXVA TCOLXJMI, BST.
Renewal:10-31-2020
Covered:83
  1. Health
  2. Prescription Drug

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,021,519
Commission4.89% $ 49,911
Fees1% $ 10,186
Brokers

Providers

No Providers

Features

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4Q - Other.


OSHA