Oaklane Farm, Inc

P O Box 271
Butler, PA 16003

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

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is in-line with peers, in the 58th percentile.
  • There was a recent mod increase.
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 26th 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.

  • 9% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 0.5% 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 Exp. Mod Carrier LCM
2023

1.520
2022

1.520
2021

1.310
2020

1.310
2017
02-28-2017

1.391
2016

1.391
2015
02-28-2015

1.875
2014

-
2013

-
2012

-
2011
02-28-2011

-
2010

-
2009

-

Contacts

Ohtsvz J Zvjk MSX
President
(805) 180-5716
8e95c

00a
(510) 555-4594
17e

Tak Istndux
Manager
(874) 559-3526
981

APQVQV Y. EKXJ XGW
Benefits Admin
(912) 998-1571
570

GOVPWQ UARBRCAKOW
Benefits Admin
(784) 691-7451
81680

Qscgi Zmidczh
Process and Supply Manager
(382) 476-1114
ozqlfygm@enrvjmcz.anu

TWZNQ A. XWUL
Treasurer
849
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 3,936,426 $ 3,925,652 $ 8,277,294 $ 8,913,889 $ 1,473,091 $ 7,365,123 $ 6,221,874 $ 9,779,551 $ 5,265,184 $ 9,394,059 $ 3,769,809 $ 5,165,516
Liabilities: $ 0 $ 6 $ 4 $ 96 $ 1 $ 193 $ 1 $ 52 $ 183
EE Contrib: $ 55,767 $ 5,387 $ 695,648 $ 868,239 $ 792,221 $ 93,993 $ 49,475 $ 622,790 $ 50,238 $ 10,924 $ 182,457 $ 193,447
Emp Contrib: $ 0 $ 6 $ 3 $ 11 $ 7 $ 9 $ 22 $ 4
Income/Loss: $ 542,194 $ 830,184 $ 663,704($ 337,015) $ 487,876 $ 92,270 $ 35,347 $ 235,420 $ 832,980 $ 605,891($ 82,009) $ 49,109
Total Income: $ 597,961 $ 965,821 $ 845,758 $ 75,133 $ 586,355 $ 258,001 $ 561,570 $ 736,523 $ 159,143 $ 421,182 $ 19,719 $ 299,435
Paid Benefits: $ 218,140 $ 808,204 $ 8,938,329 $ 50,105 $ 46,749 $ 341,491 $ 1,908 $ 872,716 $ 68,726 $ 38,604 $ 162,031 $ 838
Expenses: $ 0 $ 616 $ 26 $ 16 $ 973 $ 5 $ 4 $ 79 $ 7 $ 521 $ 4,478
  Commission: $ 1,395 $ 9,602 $ 81,107 $ 98,597 $ 9,086 $ 4,128 $ 5,018 $ 5,645 $ 6,266 $ 554 $ 8 $ 56
Net Income: $ 378,426 $ 671,671($ 688,672)($ 50,701) $ 661,405 $ 912,617 $ 80,441 $ 543,484 $ 165,674 $ 700,768($ 494,668) $ 610,797
Net Assets: $ 4,314,852 $ 5,317,141 $ 5,518,850 $ 6,167,067 $ 9,658,841 $ 8,462,373 $ 298,638 $ 5,065,623 $ 6,304,789 $ 8,682,785 $ 1,043,047 $ 9,540,913

Participants

202120202019201820172016201520142013201220112010
Total Participants:4804265185990731706833214
Active Part.:3481393555725420dff9bb4e9d4
Retired Part.:48b403781b758858191f
Deceased Part.:15a33a33e1272d35e3e2a

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.

    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.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).


OSHA