Timberlane Inc

150 Domorah Drive
Montgomeryville, PA 18936

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 in-line with peers, in the 47th percentile.
  • 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 in-line with peers, in the 51st percentile.
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.

  • 11% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 4.1% of the market.
Good

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

1.650
2021

1.650
2020

1.484
2019

1.484
2018

1.484
2017

1.484
2016

1.400
2015
12-01-2015

1.000
2014
12-01-2014

-
2013
12-01-2013

-
2012

-
2011

-
2010
12-01-2010

-
2009

-

Contacts

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President
(667) 999-3722
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Benefits Admin
(043) 339-9224
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Benefits Admin
(676) 507-1902
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Benefits Admin
(549) 042-5606
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Benefits Admin
(972) 010-6552
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Founder & CEO
(026) 670-7479
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,392,001 $ 5,674,307 $ 6,714,374 $ 2,527,275 $ 921,442 $ 295,056 $ 653,199 $ 948,531 $ 954,579 $ 395,365 $ 700,395 $ 978,926
Liabilities: $ 0 $ 65 $ 7 $ 0 $ 2 $ 3 $ 9 $ 5
EE Contrib: $ 124,439 $ 94,839 $ 10,268 $ 70,943 $ 739,339 $ 932,634 $ 843,946 $ 23,512 $ 37,944 $ 12,706 $ 24,663 $ 9,481
Emp Contrib: $ 0($ 89) $ 266 $ 87 $ 5 $ 6 $ 8
Income/Loss: $ 245,200 $ 64,779 $ 55,610($ 67,320) $ 537,969 $ 11,631($ 4,948) $ 47,486 $ 17,723 $ 87,274($ 40,664) $ 26,412
Total Income: $ 369,639 $ 929,375 $ 931,041 $ 69,130 $ 372,563 $ 133,009 $ 674,672 $ 29,431 $ 902,825 $ 51,362 $ 38,365 $ 45,931
Paid Benefits: $ 37,171 $ 314,544 $ 922,378 $ 55,471 $ 38,641 $ 45,997 $ 82,320 $ 1,552 $ 64,016 $ 9,956 $ 4,454 $ 99,940
Expenses: $ 0 $ 2 $ 2 $ 2 $ 7 $ 3 $ 64 $ 1
  Commission: $ 12,300 $ 4,643 $ 505 $ 395 $ 903 $ 794 $ 995 $ 935 $ 982 $ 30 $ 446 $ 64
Net Income: $ 320,168 $ 354,797 $ 39,165($ 12,888) $ 110,331 $ 738,919 $ 5,205 $ 23,266 $ 241,672 $ 17,058 $ 5,035 $ 25,679
Net Assets: $ 1,712,169 $ 8,975,688 $ 4,116,364 $ 5,546,193 $ 2,800,742 $ 177,441 $ 596,223 $ 110,845 $ 135,993 $ 991,793 $ 701,800 $ 250,403

Participants

202120202019201820172016201520142013201220112010
Total Participants:633275941436929362795122
Active Part.:5329439292832855400800e353e8
Retired Part.:32 5a27 6b1ffe7f6e
Deceased Part.:6fdede4f135d2a14af7dd

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.

    3B - Plan covering Self-Employed individuals.

    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.


OSHA

Motor Carrier