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 high. It is in the 75th percentile compared to peers.
  • 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.

  • 26% of peers have changed carriers since last year. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 26% 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 75th percentile at 7.3% 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

Similar Businesses

Business Stats

Policy History

Term Exp. Mod Carrier
2024

2022

2021

2020

2019

2018

2017

2016

2015

2014

2013

Contacts

Vavdo Jvmhq
Director of Technical Service &
(042) 658-6530
pcnk@blfij.hia

CDU O. TIE
Benefits Admin
(397) 229-7173
1bbde

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fa8a
psqel.arddz@pzmgb.bzz

Industry Classification

Retirement Benefits

Financials

2022202120202019201820172016201520142013201220112010
BOY Assets: $ 4,719,839 $ 7,940,267 $ 1,577,514 $ 3,613,670 $ 1,713,092 $ 3,436,961 $ 5,406,144 $ 6,001,795 $ 3,071,211 $ 6,833,089 $ 6,827,551 $ 7,323,792 $ 6,383,851
Liabilities: $ 0 $ 834 $ 5 $ 8 $ 189 $ 8
EE Contrib: $ 0 $ 4 $ 1 $ 6 $ 8 $ 118 $ 3 $ 5
Emp Contrib: $ 150,000 $ 83,127 $ 832,178 $ 797,984 $ 835,030 $ 292,313 $ 632,955 $ 102,783 $ 857,379 $ 479,894 $ 725,819 $ 818,135 $ 992,027
Income/Loss:($ 547,078) $ 134,064 $ 970,724 $ 696,780($ 705,906) $ 995,279 $ 838,358($ 92,183) $ 319,290 $ 118,313 $ 681,233($ 5,863) $ 805,839
Total Income:($ 397,078) $ 812,581 $ 702,085 $ 844,488($ 3,504) $ 511,554 $ 865,211 $ 459,483 $ 155,838 $ 198,870 $ 887,161 $ 589,603 $ 97,342
Paid Benefits: $ 2,152,357 $ 1 $ 210,707 $ 18,460 $ 1,317 $ 688,859 $ 87,121 $ 394,755 $ 22,163 $ 835,379 $ 6,589 $ 51,848
Expenses: $ 0 $ 7 $ 1 $ 69 $ 67 $ 3 $ 4 $ 1 $ 3 $ 51
  Commission: $ 26,045 $ 31,326 $ 85,412 $ 22,488 $ 34,772 $ 57,821 $ 48,990 $ 51,927 $ 3,419 $ 58,825
Net Income:($ 2,575,480) $ 391,827 $ 536,242 $ 634,085($ 642,454) $ 206,537($ 6,491) $ 48,624 $ 733,297 $ 424,304 $ 745,731 $ 444,613 $ 482,564
Net Assets: $ 2,144,359 $ 5,802,139 $ 6,335,784 $ 5,778,752 $ 3,686,287 $ 6,850,739 $ 594,998 $ 8,597,018 $ 318,262 $ 5,127,996 $ 9,014,208 $ 3,879,876 $ 8,034,936

Participants

2022202120202019201820172016201520142013201220112010
Total Participants:42363497814317403608233759
Active Part.:348147197112546659113cc1 1
Retired Part.:4f7c1247757223312c8a
Deceased Part.:813e7e4fba117ef74e7e86ee18e

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