Smith Bus Co Inc; Auto Div

271 Old William Penn Highway
Blairsville, PA 15717

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 high. It is in the 85th percentile compared to peers.
  • Mod decreased by more than 75% of peers.
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 Higher than 71% 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.

  • 6% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 31.3% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.650
2021

1.650
2020

1.440
2019

1.440
2018

1.440
2017

1.440
2016

1.440
2015

1.200
2014

-
2013

-
2012

-
2011
09-01-2011

-
2010

-
2009

-

Contacts

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President
(308) 854-3040
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Benefits Admin
(937) 266-0911
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(792) 002-0671
6343

Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 20,035
Liabilities: $ 0 $ 5
EE Contrib: $ 124,080 $ 27,382
Emp Contrib: $ 51,556 $ 8,630
Income/Loss: $ 12,625 $ 57
Total Income: $ 188,261 $ 64,584
Paid Benefits: $ 14,969
Expenses: $ 0 $ 335
  Commission: $ 453 $ 3
Net Income: $ 172,839 $ 73,142
Net Assets: $ 192,874 $ 67,535

Participants

20212020
Total Participants:3111
Active Part.:2785
Retired Part.:56
Deceased Part.:a

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.

Motor Carrier