Prociak & Associates LLC

1086 Highway 315 Blvd
Wilkes Barre, PA 18702

Talking Points

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 Higher than 76% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 8%. While peers Increased an average of 3%.
Needs Attention

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 75th percentile at 5.5% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier LCM
2022

2.750
2021

2.550
2020

2.480
2019

2.250
2018

2.250
2018
11-17-2017

1.909
2017
11-17-2017

2.874
2016

2.804
2015

2.804
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

XIRPLH ULPKXZ
Owner
(264) 934-6088
jqwmug.uvmuvr@othwwsildkhzfuorxkhc.syf

DBQXYG CLTUJI
Benefits Admin
(263) 921-4164
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Aolqgod Nekoryq
President
(087) 705-7873
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 553,004 $ 924,896 $ 449,244 $ 450,614 $ 333,136 $ 865,239 $ 771,985 $ 783,024 $ 791,246 $ 143,136 $ 535,307 $ 491,312
Liabilities: $ 0 $ 4 $ 4 $ 76 $ 78 $ 3 $ 235 $ 5 $ 2
EE Contrib: $ 24,369 $ 45,300 $ 19,443 $ 43,007 $ 677 $ 35,680 $ 75,631 $ 7,489 $ 22,799 $ 87,479 $ 4,222 $ 66,830
Emp Contrib: $ 9,437 $ 2,093 $ 2,419 $ 9,123 $ 3,022 $ 1,404 $ 9,861 $ 6,531 $ 815 $ 6,618 $ 4,998 $ 76,760
Income/Loss: $ 71,798 $ 78,961 $ 54,076($ 56,488) $ 72,536 $ 73,935($ 5,597) $ 832 $ 94,005 $ 28,079($ 24,586) $ 18,653
Total Income: $ 105,604 $ 54,216 $ 827,528($ 1,053) $ 19,435 $ 87,509 $ 11,989 $ 55,461 $ 23,285 $ 49,332 $ 4,318 $ 61,495
Paid Benefits: $ 0 $ 1 $ 65,864 $ 38 $ 5,219 $ 4,944 $ 92,052 $ 7 $ 7 $ 1,174 $ 58,180 $ 7
Expenses: $ 0 $ 43 $ 0 $ 99 $ 77 $ 646 $ 0 $ 62 $ 881 $ 11
  Commission: $ 5,086 $ 7,905 $ 7 $ 87 $ 5 $ 6 $ 95 $ 443
Net Income: $ 100,518 $ 9,104 $ 495,259($ 191) $ 56,422 $ 51,737($ 544) $ 51,632 $ 3,954 $ 32,860($ 49,048) $ 36,658
Net Assets: $ 653,522 $ 11,981 $ 885,779 $ 558,683 $ 291,056 $ 326,432 $ 883,157 $ 871,493 $ 16,184 $ 720,532 $ 603,440 $ 935,244

Participants

202120202019201820172016201520142013201220112010
Total Participants:939782601346
Active Part.:81245183d9e591dc74
Retired Part.:ba31761a4697af7f410f4171741
Deceased Part.:d6faa3f df66d2f9ae

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    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.

    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.