First Article Inc

150 South Front St
Souderton, PA 18964

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 very good. It is in the 22nd percentile compared to peers.
  • 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 11th 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 95th percentile at 13% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.130
2021

1.130
2020

1.080
2019

1.080
2018

1.080
2017

1.080
2016

1.190
2016
10-14-2015

1.670
2015

1.670
2014

-
2013

-
2013
10-14-2012

-
2012

-
2011

-
2010

-
2009

-

Contacts

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President
(812) 993-1261
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Benefits Admin
(214) 458-5095
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Benefits Admin
(463) 041-8613
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Benefits Admin
(551) 827-2644
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Benefits Admin
(783) 281-1811
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President
(695) 943-9800
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Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015
BOY Assets: $ 848,727 $ 179,025 $ 190,632 $ 239,236 $ 475,609 $ 29,923
Liabilities: $ 0 $ 7 $ 2 $ 0 $ 52
EE Contrib: $ 172,518 $ 833,387 $ 322,045 $ 496,305 $ 63,189 $ 29,425 $ 11,695
Emp Contrib: $ 79,602 $ 62,653 $ 84,568 $ 4
Income/Loss: $ 106,408 $ 9,990 $ 79,909($ 57,822) $ 36,122 $ 8,110($ 7,130)
Total Income: $ 358,528 $ 692,959 $ 243,326 $ 704,686 $ 84,729 $ 9,706 $ 10,756
Paid Benefits: $ 64,541 $ 80,694 $ 39,861 $ 38,811 $ 82,256 $ 9,034
Expenses: $ 0 $ 0 $ 92 $ 80
  Commission: $ 123 $ 266 $ 429 $ 87 $ 22 $ 9 $ 89
Net Income: $ 293,864 $ 831,664 $ 21,801 $ 45,624 $ 56,804 $ 1,822 $ 84,755
Net Assets: $ 1,142,591 $ 470,841 $ 867,611 $ 795,810 $ 635,314 $ 294,300 $ 43,114

Participants

2021202020192018201720162015
Total Participants:47204892437673
Active Part.:37978167011118
Retired Part.:f1129981c87c0a3
Deceased Part.:d63e422847d

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    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.