FAST TRAC ELECTRIC

4255 W DESERT INN RD
LAS VEGAS, NV 89102

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 in-line with peers, in the 41st percentile.
  • In the last year, premium Decreased by more than 75% of peers.
Good

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 36th percentile.
  • LCM Decreased by more than 75% of 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.

  • 24% of peers have changed carriers since last year.
  • Of those who changed carriers, 0.1% increased their LCM vs those who stayed with their current provider who saw a 0.6% increase.
  • Current Carrier's market share is in the 75th percentile at 8.5% of the market.
Average

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
2022

1.370
2022
01-01-2022

1.525
2021

1.525
2021

1.370
2021
12-12-2020

1.040
2020

2.071
2020

1.337
2020

1.000
2019

2.071
2019

1.337
2018

2.071
2017

2.071
2016

2.071
2015

2.071
2014

1.222
2013
01-01-2013

1.500
2012

1.500

Contacts

MQMJMVZ S. EUEA
Benefits Admin
(277) 186-2810
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Iyiqhyy Xynp
President
(495) 020-1309
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 2,319,109 $ 308,779 $ 4,084,677 $ 9,859,965 $ 7,539,819 $ 4,643,687 $ 46,667 $ 8,035,660 $ 489,161 $ 708,746 $ 799,882 $ 406,322
Liabilities: $ 0 $ 6 $ 6 $ 3 $ 31 $ 1 $ 3
EE Contrib: $ 27,522 $ 47,956 $ 33,942 $ 19,534 $ 21,318 $ 13,689 $ 85,944 $ 16,166 $ 22,918 $ 46,408 $ 42,221 $ 24,403
Emp Contrib: $ 10,873 $ 78,882 $ 87,496 $ 79,051 $ 30,467 $ 78,555 $ 5,261 $ 3,092 $ 44,689 $ 57,627 $ 66,564 $ 3,829
Income/Loss: $ 305,849 $ 245,271 $ 615,781($ 5,715) $ 879,334 $ 70,968 $ 37,060 $ 2,779 $ 396,514 $ 17,362($ 2,727) $ 50,129
Total Income: $ 344,244 $ 911,971 $ 257,568 $ 86,817 $ 392,511 $ 57,908 $ 65,592 $ 65,045 $ 572,467 $ 35,381 $ 31,518 $ 223,684
Paid Benefits: $ 10,892 $ 37,743 $ 45 $ 9,296 $ 1,122 $ 9 $ 4,879 $ 383 $ 4,237 $ 9,977 $ 959
Expenses: $ 0 $ 5 $ 0 $ 5 $ 8 $ 5 $ 8
  Commission: $ 100 $ 125 $ 8 $ 8 $ 65 $ 5 $ 71 $ 85 $ 60
Net Income: $ 333,252 $ 819,222 $ 33,044 $ 74,498 $ 12,925 $ 169,100 $ 41,731 $ 867,315 $ 518,061 $ 45,155 $ 1,545 $ 819,304
Net Assets: $ 2,652,361 $ 744,235 $ 6,721,465 $ 2,666,290 $ 7,093,645 $ 6,541,694 $ 8,051,150 $ 3,833,101 $ 7,919,915 $ 941,021 $ 121,906 $ 577,547

Participants

202120202019201820172016201520142013201220112010
Total Participants:175448340691877405416092
Active Part.:55710034551e55f8
Retired Part.:201c92f92ca958bb9b2f
Deceased Part.:37c7759848636c4767946

Insurance

No Insurance Coverage

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

    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

Motor Carrier