MEGI ENGINEERING INC

5005 MEADOWS RD STE 100
LAKE OSWEGO, OR 97035

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

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 40th percentile.
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.

  • 13% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 9% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.127
2023

1.651
2023

1.448
2023

2.080
2023

1.496
2023

1.707
2023

1.540
2023

-
2023

1.481
2023

1.573
2023

1.500
2023

1.550
2023

1.543
2022

1.448
2022

2.011
2022

2.003
2022

1.651
2022

1.490
2022

1.707
2022

1.540
2022

-
2022

-
2022

1.564
2022

1.435
2022

1.550
2022

1.543
2021

1.448
2021

1.970
2021

1.870
2021

1.651
2021

1.443
2021

1.707
2021

1.540
2021

-
2021

-
2021

1.564
2021

1.435
2021

1.520
2021

1.543
2020

1.448
2020

1.970
2020

-
2020

1.651
2020

1.600
2020

1.645
2020

-
2020

1.540
2020

-
2020

1.564
2020

1.435
2020

-
2019

-

Contacts

DKEPE ICEYELFMM
Benefits Admin
(068) 829-4247
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OMHUPB TWJNIOI
Benefits Admin
(682) 494-8113
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(580) 972-6193
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5
(491) 448-5087
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Industry Classification

Retirement Benefits

Financials

202120202019
BOY Assets: $ 881,681 $ 838,819
Liabilities: $ 0 $ 6
EE Contrib: $ 373,419 $ 913,703 $ 562,806
Emp Contrib: $ 0
Income/Loss: $ 29,723 $ 498,942 $ 44,855
Total Income: $ 403,142 $ 37,065 $ 396,726
Paid Benefits: $ 68,421 $ 4,027 $ 2,608
Expenses: $ 0 $ 33 $ 440
  Commission: $ 10,484 $ 1,882 $ 5
Net Income: $ 324,237 $ 43,677 $ 705,896
Net Assets: $ 1,205,918 $ 818,582 $ 673,925

Participants

202120202019
Total Participants:655027
Active Part.:542951
Retired Part.:59
Deceased Part.:71f103

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

    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.

    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.

    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.