MFP INC

490 KIETZKE LN
RENO, NV 89502

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
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 in-line with peers, in the 66th percentile.
  • In the last year, premium Decreased by more than 75% of peers.
Average

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 53rd percentile.
Average

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.

  • 8% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 1.2% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.390
2022

1.390
2021

1.201
2020

1.201
2019

1.201
2018

1.201
2017

1.201
2016
09-13-2016

1.290
2015

1.290
2014

1.290
2013

1.220
2012

1.220

Contacts

DAHHZO ZBEWBKAUL
Benefits Admin
(015) 299-6825
d15cb

USSYU ZEQQEIIHI
Benefits Admin
(394) 070-5740
45d1

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,160,797 $ 609,402 $ 7,621,080 $ 5,422,352 $ 6,883,930 $ 8,536,649 $ 7,846,622 $ 4,337,683 $ 9,479,801 $ 9,943,037 $ 1,766,141 $ 714,927
Liabilities: $ 0 $ 6 $ 25 $ 52 $ 1 $ 6 $ 28 $ 4 $ 74 $ 97,749
EE Contrib: $ 0 $ 3 $ 6 $ 37 $ 77 $ 21 $ 0 $ 1 $ 7,646
Emp Contrib: $ 153,790 $ 46,253 $ 92,524 $ 31,890 $ 51,828 $ 83,220 $ 85,389 $ 47,497 $ 79,715 $ 135
Income/Loss: $ 408,761 $ 64,370 $ 144,375($ 1,561) $ 303,674 $ 282,081 $ 700,855($ 995,930) $ 383,111 $ 497,043 $ 125,460 $ 602,657
Total Income: $ 562,551 $ 990,390 $ 785,479($ 72,460) $ 16,575 $ 567,842 $ 440,408($ 375,350) $ 740,739 $ 554,305 $ 609,882 $ 749,122
Paid Benefits: $ 103,912 $ 33,102 $ 50,184 $ 60,608 $ 53,317 $ 43,024 $ 92,709 $ 88,204 $ 777,615 $ 80,354 $ 20,657
Expenses: $ 0 $ 8 $ 4 $ 21 $ 5 $ 4 $ 9
  Commission: $ 4,675 $ 7,342 $ 9,566 $ 6,050 $ 7,515 $ 6,269 $ 3,035 $ 364 $ 797 $ 8,233 $ 710 $ 8,921
Net Income: $ 453,964 $ 294,901 $ 111,909($ 64,813) $ 895,604 $ 18,171 $ 662,440($ 582,055) $ 163,002 $ 41,699 $ 70,309 $ 670,115
Net Assets: $ 4,614,761 $ 9,083,507 $ 3,372,549 $ 9,645,742 $ 7,370,265 $ 3,713,394 $ 6,905,207 $ 5,686,622 $ 2,308,770 $ 2,588,696 $ 3,581,018 $ 1,562,179

Participants

202120202019201820172016201520142013201220112010
Total Participants:142187769887223573348794
Active Part.:1261762819412934004
Retired Part.:ba4fbb48233c7bbb660
Deceased Part.:f3b5c8938336b73386246

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.