FAI-GON ELECTRIC, INC.

140 11TH ST
PISCATAWAY, NJ 08854

Talking Points

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
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 very good. It is in the 0th percentile compared to peers.
Good

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.

  • 13% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 7.8% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier
2023

2022

2021

2020

2019

2018

2017

2017

2016

2016

2016

2016

2015

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2015

2015

2015

2014

2014

2014

2014

2014

2013

2013

2013

2013

2012

2012

2012

Contacts

MBAMWA HVWM
Benefits Admin
(762) 246-5679
3eb

Mpc Iurh
President
(701) 237-1713
c092

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,413,001 $ 2,311,920 $ 4,874,168 $ 4,305,173 $ 2,255,797 $ 3,299,179 $ 7,180,230 $ 3,450,761 $ 9,534,486 $ 86,673 $ 99,610 $ 954,260
Liabilities: $ 0 $ 1 $ 21 $ 333 $ 0 $ 313 $ 173 $ 20 $ 2
EE Contrib: $ 0 $ 85 $ 5 $ 9 $ 500,000 $ 55 $ 0 $ 5
Emp Contrib: $ 42,900 $ 39,721 $ 5,047 $ 64,831 $ 86,214 $ 51,775 $ 801,589 $ 485,132 $ 93,433 $ 73,382 $ 81,695 $ 39,228
Income/Loss: $ 170,860 $ 82,422 $ 690,905($ 76,775) $ 919,679 $ 671,942 $ 43,197 $ 18,260 $ 25,541 $ 9,990 $ 1,029 $ 95,998
Total Income: $ 213,760 $ 857,022 $ 366,079($ 38,255) $ 543,481 $ 492,071 $ 717,005 $ 109,082 $ 781,361 $ 748,231 $ 36,654 $ 608,728
Paid Benefits: $ 0 $ 880,973 $ 0 $ 5 $ 1 $ 3 $ 6 $ 668 $ 3
Expenses: $ 8,687 $ 16,846 $ 685 $ 10,284 $ 49,209 $ 43,792 $ 60,213 $ 8,133 $ 5,132 $ 2,780 $ 2,513 $ 6,562
  Commission: $ 0 $ 90 $ 72 $ 6 $ 17 $ 9 $ 270 $ 162 $ 90
Net Income: $ 205,073($ 292,130) $ 153,328($ 42,042) $ 378,163 $ 161,334 $ 573,628 $ 294,181 $ 254,573 $ 452,177 $ 2,897 $ 640,383
Net Assets: $ 1,618,074 $ 7,576,110 $ 386,190 $ 1,059,691 $ 3,967,612 $ 529,102 $ 9,811,610 $ 7,054,280 $ 9,624,269 $ 7,206,634 $ 340,022 $ 627,970

Participants

202120202019201820172016201520142013201220112010
Total Participants:337063200515
Active Part.:323271140621
Retired Part.:aabae46677a44cb41b
Deceased Part.:7 9ee35c048e953e57

Insurance

MMSHLWQSQKCON PUAOZY TTEA TKKOFNNOL VCBTIRT
Renewal:12-31-2021
Covered:2
PENSION_EOY_SEP_ACCT_AMT: 0PENSION_PREM_PAID_TOT_AMT: 4731

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 0

Providers

No Providers

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    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.