NIPPON PGM AMERICA INC

500 RICHARDS RUN, UNIT1
BURLINGTON, NJ 08016

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • An osha violation that is followed by a premium increase may indicate a WC claim has occurred.
Needs Attention

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Higher than 100% of peers.
Needs Attention

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 93rd percentile compared to peers.
  • 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.

  • 23% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 99th percentile at 17.8% 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
2023
AR
2023
AR
2023
AR
2023
AR
2022
AR
2021

2020

2019

2018

2017

2016

2015

2014

2013

Contacts

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Benefits Admin
(656) 832-8952
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(132) 252-9757
30

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013
BOY Assets: $ 233,229 $ 460,119 $ 761,914 $ 114,576 $ 344,990 $ 55,122 $ 6,568 $ 59,556
Liabilities: $ 0 $ 46 $ 4 $ 22 $ 58 $ 3 $ 2
EE Contrib: $ 12,594 $ 42,773 $ 274 $ 71,172 $ 80,376 $ 38,032 $ 8,137 $ 50,863 $ 43,799
Emp Contrib: $ 0 $ 0 $ 6 $ 6 $ 43
Income/Loss: $ 19,659 $ 19,089 $ 75,690($ 7,280) $ 47,605 $ 189($ 5,645) $ 4,477 $ 9,450
Total Income: $ 32,253 $ 55,951 $ 28,107 $ 35,577 $ 91,691 $ 3,050 $ 28,915 $ 38,853 $ 640
Paid Benefits: $ 197,641 $ 30,153 $ 59,218 $ 18,209 $ 758 $ 6
Expenses: $ 0 $ 15 $ 93 $1,000,000,000 $ 1 $ 83 $ 0
  Commission: $ 75 $ 164 $ 0 $ 39 $ 862 $ 234 $ 1
Net Income:($ 165,463) $ 75,662 $ 13,400 $ 58,719($ 59,956) $ 64,505 $ 91,046 $ 22,507 $ 81,688
Net Assets: $ 67,766 $ 568,299 $ 280,149 $ 130,489 $ 772,426 $ 2,105 $ 84,186 $ 28,880 $ 43,880

Participants

202120202019201820172016201520142013
Total Participants:15880528886938
Active Part.:141647581565241
Retired Part.:64cc0669f44 b6bc6f
Deceased Part.:08396bf6baf30

Insurance

No Insurance Coverage

Providers

No Providers

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.

    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.


OSHA