Smith Bus Co Inc; Auto Div

271 Old William Penn Highway
Blairsville, PA 15717

Talking Points

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 73rd percentile.
  • Mod decreased by more than 75% of peers.
Average

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 in-line with peers, in the 36th percentile.
  • In the last year, LCM Decreased by 9%. While peers Increased an average of 0%.
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.
  • Of those who changed carriers, 8.9% decreased their LCM vs those who stayed with their current provider who saw a 1% increase, a difference of roughly 9x.
  • Current Carrier's market share is in the 1st percentile at 0.8% of the market.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2024

1.500
2023

1.650
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

Fogvfdp Ryhbs
President
(551) 641-6695
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(282) 072-7082
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Industry Classification

Retirement Benefits

Financials

202220212020
BOY Assets: $ 192,874 $ 48,861
Liabilities: $ 0
EE Contrib: $ 392,473 $ 733,843 $ 51,225
Emp Contrib: $ 69,333 $ 97,000 $ 3,991
Income/Loss:($ 63,652) $ 51,432 $ 865
Total Income: $ 398,154 $ 769,864 $ 97,664
Paid Benefits: $ 15,115 $ 54,086 $ 7
Expenses: $ 0 $ 498
  Commission: $ 1,985 $ 469 $ 5
Net Income: $ 381,054 $ 127,042 $ 27,594
Net Assets: $ 573,928 $ 421,829 $ 31,292

Participants

202220212020
Total Participants:447138
Active Part.:382226
Retired Part.:e18
Deceased Part.:228c2

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