ADVANCED FOOD SYSTEMS INC

21 ROOSEVELT AVE
SOMERSET, NJ 08873

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 69th percentile.
  • There was a recent mod increase.
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.

  • 29% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 29% 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 8.5% 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
2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

Contacts

XOT P. XYO
Benefits Admin
(150) 000-3742
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Buzpg Fjoey
Director of Technical Service &
(923) 945-3308
cvrs@jiwpw.vev

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ysbqc.lypzs@ukpdw.eex

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,470,131 $ 6,387,397 $ 3,163,608 $ 5,902,663 $ 4,390,321 $ 4,240,815 $ 7,043,292 $ 9,858,960 $ 3,773,432 $ 675,558 $ 2,972,556 $ 2,596,574
Liabilities: $ 0 $ 3 $ 5 $ 3 $ 8 $ 78 $ 4 $ 4 $ 8 $ 9
EE Contrib: $ 0 $ 14 $ 136 $ 6 $ 464 $ 1 $ 0
Emp Contrib: $ 150,000 $ 114,245 $ 590,224 $ 832,668 $ 680,763 $ 322,331 $ 779,140 $ 241,415 $ 419,475 $ 62,206 $ 135,300 $ 137,595
Income/Loss: $ 137,382 $ 494,540 $ 381,569($ 466,392) $ 287,640 $ 248,695($ 59,469) $ 41,935 $ 255,212 $ 610,110($ 9,935) $ 127,527
Total Income: $ 287,382 $ 8,685 $ 806,944($ 49,787) $ 443,377 $ 655,207 $ 570,067 $ 678,764 $ 583,665 $ 167,252 $ 312,594 $ 230,911
Paid Benefits: $ 0 $ 425,454 $ 605,975 $ 8,651 $ 571,374 $ 9,039 $ 280,586 $ 4,029 $ 925,207 $ 170 $ 40,634
Expenses: $ 0 $ 34 $ 195 $ 8 $ 1 $ 3 $ 113
  Commission: $ 37,674 $ 82,351 $ 11,985 $ 17,759 $ 31,203 $ 30,174 $ 63,908 $ 8,429 $ 12,575 $ 60 $ 6
Net Income: $ 249,708 $ 906,780 $ 908,035($ 755,667) $ 916,065($ 34,745) $ 16,987 $ 464,756 $ 192,880 $ 919,845 $ 659,578 $ 28,031
Net Assets: $ 4,719,839 $ 6,952,042 $ 5,797,150 $ 989,039 $ 6,846,093 $ 4,593,889 $ 2,106,989 $ 9,771,066 $ 6,805,425 $ 3,858,914 $ 5,932,502 $ 5,435,674

Participants

202120202019201820172016201520142013201220112010
Total Participants:472716692109093613861253
Active Part.:3404998186947773c88a739a2
Retired Part.:632674612 67877f472d7c3c
Deceased Part.:774e3ee111083c3377b21c0

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    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