GAY SHEET METAL DIES INC

301 HINMAN AVE
BUFFALO, NY 14216

Talking Points

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 Higher than 93% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
Needs Attention

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.

  • 5% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 25.5% of the market.
Good

Business Stats

Policy History

Term Carrier LCM
2023

1.486
2022

1.486
2021

1.486
2020

1.351
2019

1.351
2018

1.351
2017

1.351
2016

1.216

Contacts

GPQUDJV PKRLB
Benefits Admin
(117) 423-1118
975b

Watywof Jnfer
President
(136) 812-4219
92579

Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014201320122011
BOY Assets: $ 450,986 $ 44,097 $ 39,190 $ 796,022 $ 100,397 $ 134,483 $ 78 $ 516,643 $ 725,144 $ 192,061 $ 405,431
Liabilities: $ 0 $ 303 $ 34 $ 9 $ 9 $ 106 $ 78 $ 40 $ 5 $ 640
EE Contrib: $ 0 $ 7 $ 75 $ 608 $ 9 $ 749
Emp Contrib: $ 12,624 $ 63,140 $ 39,459 $ 20,786 $ 48,446 $ 47,108 $ 14,554 $ 71,891 $ 64,959 $ 68,958 $ 79,956
Income/Loss: $ 26,654 $ 3,660 $ 80,994($ 31,110) $ 52,413 $ 45,603($ 5,784) $ 75 $ 64,270 $ 3,902($ 250)
Total Income: $ 39,278 $ 8,302 $ 4,113($ 45,219) $ 73,490 $ 43,848 $ 2,486 $ 7,547 $ 31,390 $ 98,733 $ 1,761
Paid Benefits: $ 0 $ 31,564 $ 848,865 $ 74,258 $ 69,737 $ 27,442 $ 36,843 $ 77,109 $ 71 $ 6,493
Expenses: $ 0 $ 620 $ 626 $ 58 $ 0 $ 9 $ 5 $ 3 $ 3 $ 62 $ 32
  Commission: $ 1,507 $ 4,697 $ 4,497 $ 4,715 $ 7,283 $ 7,396 $ 4,822 $ 2,946 $ 8,858 $ 6,866 $ 2,006
Net Income: $ 37,771($ 75)($ 52,428)($ 58,054) $ 21,148 $ 7,598 $ 2,567($ 4,231) $ 65,338 $ 39,802($ 12,143)
Net Assets: $ 488,757 $ 831,718 $ 668,900 $ 235,623 $ 750,053 $ 430,427 $ 998,251 $ 645,842 $ 245,520 $ 703,237 $ 457,529

Participants

20212020201920182017201620152014201320122011
Total Participants:65938421704
Active Part.:6967831623aa1a
Retired Part.:a6fa9193bd1dafbce414
Deceased Part.:fd6ef6f205b bdef326

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2C - Money purchase (other than target benefit)

    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