Normandy Insurance Company

1019 Avenue P Ste 601
Brooklyn, NY 11223

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

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 Very Good, in the 28th 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.

  • 7% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 99th percentile at 27.5% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.290
2023

1.521
2023

1.148
2023

2.355
2022

2.940
2022

1.450
2022

2.289
2022

1.940
2022

2.290
2022

1.562
2022

2.355
2022

1.725
2022
11-19-2022

-
2021

1.316
2021

-
2021

2.355
2021

2.290
2020

1.893
2020

-
2020

2.607
2019

1.893
2019

-
2019

2.416
2018

1.726
2018

-
2017

-
2016

-
2015

-

Contacts

SZD XXJMTH
Benefits Admin
(260) 867-3597
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(492) 524-7509
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(599) 532-6970
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Industry Classification

Retirement Benefits

Financials

202120202019201820172015201420132012
BOY Assets: $ 793,434 $ 724,994 $ 987,976 $ 19,071 $ 194,717 $ 340,471 $ 81,607 $ 22,860 $ 89
Liabilities: $ 0 $ 0 $ 6 $ 9 $ 4
EE Contrib: $ 132,463 $ 746,628 $ 488,450 $ 44,923 $ 11,846 $ 63,136 $ 1,813 $ 10,972 $ 26,752
Emp Contrib: $ 11,332 $ 9 $ 44 $ 3
Income/Loss: $ 107,594 $ 358,698 $ 46,169($ 25,810) $ 5,767($ 10,962) $ 90,020 $ 2,565 $ 819
Total Income: $ 251,389 $ 299,625 $ 791,171 $ 61,881 $ 46,893 $ 7,009 $ 81,321 $ 8,403 $ 92,125
Paid Benefits: $ 4,971 $ 57 $ 27 $ 0 $ 5 $ 63,959 $ 3 $ 56
Expenses: $ 0 $ 645 $ 3 $ 4 $ 400,000 $ 5 $ 5
  Commission: $ 2,316 $ 8 $ 88 $ 9 $ 8 $ 472 $ 9
Net Income: $ 244,102 $ 870,708 $ 603,368 $ 81,902 $ 52,672 $ 5,102 $ 49,456 $ 73,764 $ 54,031
Net Assets: $ 1,037,536 $ 602,530 $ 992,278 $ 897,602 $ 497,052 $ 239,561 $ 875,967 $ 70,111 $ 64,225

Participants

202120202019201820172015201420132012
Total Participants:5579417252564929
Active Part.:5200675178588399
Retired Part.:b046e11d14ef41510d
Deceased Part.:330aa3b07db43e 5605

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    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.

    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.