Kuranda Financial Mortgage Inc

617 W LANCASTER AVE
WAYNE, PA 19087

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
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 4th percentile compared to peers.
  • In the last year, LCM Decreased by 63%. While peers Increased an average of 4%.
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.

  • 19% of peers have changed carriers since last year.
  • Of those who changed carriers, 3.3% decreased their LCM vs those who stayed with their current provider who saw a 4.2% increase.
  • Current Carrier's market share is in the 99th percentile at 96.3% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.017
2020
03-17-2019

2.719
2019

2.719
2018

2.210
2017

1.359
2014
06-16-2014

-
2013

-
2012

-
2011

-

Contacts

Cfporc Mrohpmh
President
(665) 688-9170
qesi@beezuajhviackfs.nqn

Industry Classification

Retirement Benefits

Financials

2021
BOY Assets: $ 0
Liabilities: $ 0
EE Contrib: $ 25,991
Emp Contrib: $ 1,251
Income/Loss: $ 576
Total Income: $ 27,818
Paid Benefits: $ 0
Expenses: $ 0
  Commission: $ 33
Net Income: $ 27,785
Net Assets: $ 27,785

Participants

2021
Total Participants:1
Active Part.:1
Retired Part.:
Deceased Part.:

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.