Richard B Guskiewicz Assoc Certified Public Accountants

1013 Ligonier St
Latrobe, PA 15650

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

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 29th percentile compared to peers.
  • In the last year, LCM Increased by 5%. While peers Increased an average of 3%.
Average

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.

  • 3% of peers have changed carriers since last year.
  • Of those who changed carriers, 5.4% decreased their LCM vs those who stayed with their current provider who saw a 2.8% increase.
  • Current Carrier's market share is in the 95th percentile at 12.2% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.764
2021

1.680
2020

1.631
2017

1.673
2016

1.632
2015

1.632
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

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CPA
(791) 723-8023
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AMJSIFZ B. PCHBVU
Benefits Admin
(868) 981-4363
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(156) 605-2343
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,622,040 $ 2,355,680 $ 7,058,857 $ 5,487,333 $ 675,128 $ 923,704 $ 2,049,741 $ 3,714,859 $ 7,384,095 $ 2,183,091 $ 5,571,873 $ 9,779,682
Liabilities: $ 0 $ 0 $ 9 $ 709 $ 741
EE Contrib: $ 109,030 $ 29,078 $ 95,796 $ 5,224 $ 3,676 $ 48,984 $ 5,074 $ 63,914 $ 53,143 $ 45,637 $ 78,825 $ 11,721
Emp Contrib: $ 20,190 $ 16,817 $ 58,488 $ 76,166 $ 22,624 $ 59,069 $ 59,446 $ 988 $ 97,507 $ 41,886 $ 92,654 $ 60,505
Income/Loss: $ 429,741 $ 214,408 $ 819,561($ 38,571) $ 251,834 $ 844,193($ 60,500) $ 981,666 $ 287,696 $ 567,163 $ 245 $ 911,005
Total Income: $ 558,961 $ 873,319 $ 301,693 $ 13,964 $ 314,826 $ 979,190 $ 32,300 $ 713,141 $ 960,150 $ 666,573 $ 908,514 $ 572,710
Paid Benefits: $ 15,033 $8,000,000,000 $ 344,480 $ 3,248 $ 4,558 $ 498 $ 8 $ 1,816 $ 530 $ 982 $ 5 $ 8,422
Expenses: $ 0 $ 5 $ 6 $ 0 $ 4 $ 0 $ 655 $ 400,000 $ 95
  Commission: $ 12,901 $ 1,343 $ 1,508 $ 8,029 $ 8,353 $ 1,013 $ 36 $ 7,167 $ 2,269 $ 8,567 $ 9,231 $ 1
Net Income: $ 531,027 $ 728,194 $ 216,295 $ 9,728 $ 91,697 $ 860,406 $ 97,582 $ 659,668 $ 521,971 $ 711,728 $ 208,554 $ 250,861
Net Assets: $ 5,153,067 $ 1,286,269 $ 1,388,996 $ 9,930,264 $ 8,566,169 $ 3,884,465 $ 5,536,821 $ 3,810,390 $ 9,479,532 $ 5,994,633 $ 112,165 $ 2,131,154

Participants

202120202019201820172016201520142013201220112010
Total Participants:92602842638548920311448
Active Part.:8221591467690ce953e
Retired Part.:82 c1294e9ce0982098d2 4
Deceased Part.:9f552dd9c29e95 292bdcd0

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.

    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.