State Pipe Services Inc

7587 Franklin Rd
Cranberry TWP, PA 16066

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 high. It is in the 81st percentile compared to peers.
  • There was a recent mod decrease.
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 0th percentile compared to peers.
  • LCM Decreased by more than 75% of peers.
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.

  • 15% of peers have changed carriers since last year.
  • Of those who changed carriers, 1% decreased their LCM vs those who stayed with their current provider who saw a 3.2% increase.
  • Current Carrier's market share is in the 95th percentile at 10.9% 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

1.215
(Current: 1.250)
2021

1.375
2020

-
2020
10-01-2020

1.597
2019

1.488
2018

1.373
2017

-
2017

1.373
2016

1.373
2015

1.309
2014

-
2013

-
2012

-
2011
10-01-2011

-
2010

-
2009

-
2009
10-01-2008

-

Contacts

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President
(238) 391-2034
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Benefits Admin
(661) 562-9838
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Benefits Admin
(541) 817-3049
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Controller
(116) 557-9966
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,875,066 $ 7,695,455 $ 2,422,715 $ 8,010,780 $ 2,958,017 $ 3,873,164 $ 3,211,623 $ 3,987,298 $ 5,103,708 $ 3,003,855 $ 2,693,466 $ 5,951,482
Liabilities: $ 0 $ 1 $ 5 $ 6 $ 4 $ 3 $ 97 $ 6 $ 35 $ 277
EE Contrib: $ 112,203 $ 357,604 $ 494 $ 389,757 $ 549,903 $ 515,516 $ 726,473 $ 822,439 $ 922,524 $ 29,476 $ 319,906 $ 80,626
Emp Contrib: $ 71,762 $ 31,287 $ 62,215 $ 34,627 $ 11,178 $ 72,862 $ 8,143 $ 88,881 $ 71,768 $ 3,002 $ 23,092 $ 95,665
Income/Loss: $ 877,358 $ 772,652 $ 984,507($ 840,745) $ 731,422 $ 353,673 $ 42,219 $ 608,043 $ 797,529 $ 710,900($ 5,790) $ 906,423
Total Income: $ 1,061,323 $ 84,413 $ 5,930,547($ 2,725) $ 431,534 $ 445,563 $ 942,507 $ 269,630 $ 168,614 $ 375,776 $ 337,679 $ 650,775
Paid Benefits: $ 278,448 $ 427,686 $ 20,894 $ 879,406 $ 1 $ 909,837 $ 97,588 $ 81 $ 971,054 $ 6,174 $ 442 $ 861,830
Expenses: $ 0 $ 5 $ 1 $ 3 $ 9 $ 7 $ 6 $ 161 $ 6
  Commission: $ 375 $ 692 $ 5,037 $ 836 $ 8 $ 371 $ 66 $ 836 $ 367 $ 654 $ 870
Net Income: $ 782,500 $ 561,063 $ 286,078($ 696,948) $ 338,914 $ 886,208 $ 875,319 $ 720,299 $ 482,972 $ 698,246 $ 122,857 $ 612,901
Net Assets: $ 5,657,566 $ 6,477,387 $ 5,460,381 $ 8,708,306 $ 7,410,402 $ 6,381,499 $ 3,953,191 $ 2,436,627 $ 3,117,988 $ 4,953,254 $ 9,076,734 $ 1,754,999

Participants

202120202019201820172016201520142013201220112010
Total Participants:533570728059761803822214
Active Part.:4636382604651726e0a 0d
Retired Part.:fe3fee10 0 5b331275b
Deceased Part.:65265ed77f379 9ff376eb1

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.

    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