R T Price Excavating & Paving LLC

292 Barnsley Rd
Oxford, PA 19363

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 64th 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 Very Good, in the 29th percentile compared to peers.
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.

  • 14% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 99th percentile at 13.6% 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

1.567
(Current: 1.692)
2022

1.499
2021

1.481
2021

1.428
2020

1.481
2020

1.386
2019

1.386
2018

1.426
2018
09-15-2017

3.119
2017

3.119
2016

2.447
2015

2.255

Contacts

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president
(303) 249-8072
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Benefits Admin
(470) 253-3716
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Benefits Admin
(919) 555-3869
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Industry Classification

Retirement Benefits

Financials

2021202020192018
BOY Assets: $ 70,565 $ 65,897 $ 68,667 $ 9
Liabilities: $ 0 $ 2 $ 0 $ 3
EE Contrib: $ 13,956 $ 64,040 $ 15,694 $ 29,056
Emp Contrib: $ 8,462 $ 7,895 $ 5,993 $ 4,963
Income/Loss: $ 13,024 $ 70,906 $ 124($ 1,141)
Total Income: $ 35,442 $ 62,758 $ 22,146 $ 1,306
Paid Benefits: $ 0 $ 91 $ 7,393 $ 8
Expenses: $ 0 $ 7 $ 8
  Commission: $ 707 $ 233 $ 590 $ 88
Net Income: $ 34,735 $ 98,630 $ 77,297 $ 92,115
Net Assets: $ 105,300 $ 26,732 $ 46,394 $ 36,612

Participants

2021202020192018
Total Participants:10830
Active Part.:9953
Retired Part.:2785e27d
Deceased Part.:ec36ed90

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.


OSHA

Motor Carrier