R & K CONCRETE CUTTING INC. DBA R &

3922 OCTAGON RD
NORTH LAS VEGAS, NV 89030

Talking Points

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 88% of peers.
  • In the last year, premium Increased by more than 75% of peers.
Needs Attention

LCM Rate

LCMs have the largest effect on your WC costs. Carriers file LCM's which are multiplied with the state approved Loss Costs for your employment classifications to create your policy rates. Carrier Groups have several Carrier Tier's each with their own filing, allowing their underwriters to price aggressively to overly prudent depending on the risk.

  • The LCM of the Current Carrier is in-line with peers, in the 43rd percentile.
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.

  • 14% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 2.4% 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 Carrier Premium LCM
2023

1.400
2022

1.400
2021

1.400
2020

1.400
2019

1.400
2018

1.400
2017

1.400
2016

1.400
2015

1.400
2014
05-15-2014

1.450
2013

1.280
2013
09-30-2012

1.514
2012

1.514
2012
05-15-2012

1.201

Contacts

GIR Q. HTANFT
Benefits Admin
(688) 204-1582
e5aa1

CWY VLRUSX
Benefits Admin
(141) 960-3161
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Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014
BOY Assets: $ 672,949 $ 501,996 $ 424,191 $ 391,562 $ 420,059 $ 88,797 $ 11,871 $ 43
Liabilities: $ 0 $ 36 $ 9 $ 8 $ 3 $ 6
EE Contrib: $ 72,502 $ 2,293 $ 37,196 $ 81,392 $ 39,019 $ 25,778 $ 14,626 $ 20,010
Emp Contrib: $ 25,818 $ 37,224 $ 40,995 $ 28,153 $ 25,534 $ 5,743 $ 3,579 $ 7,406
Income/Loss: $ 102,227 $ 969,205 $ 30,061($ 73,899) $ 81,535 $ 69,644($ 6,089) $ 857
Total Income: $ 200,547 $ 375,243 $ 455,566 $ 29,805 $ 927,111 $ 7,666 $ 63,639 $ 49,234
Paid Benefits: $ 42,418 $ 83,726 $ 7,517 $ 87 $ 689 $ 74,219 $ 809
Expenses: $ 0 $ 3 $ 8
  Commission: $ 270 $ 397 $ 11 $ 2 $ 8 $ 353 $ 83
Net Income: $ 157,859 $ 446,696 $ 19,403 $ 79,307 $ 458,286 $ 6,796 $ 48,595 $ 14,092
Net Assets: $ 830,808 $ 800,784 $ 847,126 $ 902,927 $ 705,926 $ 319,209 $ 50,031 $ 55,807

Participants

20212020201920182017201620152014
Total Participants:372027425135848
Active Part.:367507294395988
Retired Part.:e90e 609e5e0
Deceased Part.:67893e6dca1963

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.

    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.


OSHA