BONE ENTERPRISES INC

9296 KINGSTON PIKE
KNOXVILLE, TN 37922

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 Very Good, in the 17th percentile compared to 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.

  • 16% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 1st percentile at 5.3% of the market.
Needs Attention

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

Similar Businesses

Business Stats

Policy History

Term Carrier LCM
2024

1.360
2023

1.360
2022

1.360
2021

1.360
2020

1.400
2019

1.350
2017

1.330
2016

1.330
2015

-

Contacts

RCJG HCWOL
Owner
(868) 325-7274
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Owner
(321) 046-0121
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MIZX PDEPT
Benefits Admin
(813) 894-8533
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Industry Classification

Retirement Benefits

Financials

2022202120202019201820172016201520142013201220112010
BOY Assets: $ 710,305 $ 135,909 $ 452,443 $ 168,842 $ 242,525 $ 872,649 $ 500,453 $ 226,511 $ 229,456 $ 6,231 $ 299,328 $ 262,130 $ 908,312
Liabilities: $ 0 $ 83 $ 6 $ 44 $ 8 $ 6
EE Contrib: $ 27,215 $ 8,561 $ 9,243 $ 8,043 $ 82,284 $ 6,887 $ 92,116 $ 63,166 $ 87,211 $ 98,047 $ 58,433 $ 35,783 $ 99,621
Emp Contrib: $ 0 $ 6 $ 46 $ 1 $ 1 $ 61 $ 9,300 $ 48
Income/Loss:($ 91,415) $ 92,830 $ 77,858 $ 22,953($ 24,584) $ 87,064 $ 85,328 $ 7,997 $ 78,687 $ 50,687 $ 88,804($ 66,928) $ 98,695
Total Income:($ 64,200) $ 709,961 $ 477,425 $ 499,212($ 77,026) $ 40,625 $ 27,016 $ 86,213 $ 15,513 $ 433,607 $ 8,832 $ 99,031 $ 90,496
Paid Benefits: $ 269,959 $ 60,870 $ 87,132 $ 1,158 $ 441,192 $ 41,864 $ 64,341 $ 19,314 $ 61,514 $ 12,947
Expenses: $ 0 $ 8 $ 63 $ 37 $ 6 $ 26 $ 437 $ 8 $ 84 $ 3
  Commission: $ 5,369 $ 7,839 $ 535 $ 8,033 $ 6,235 $ 2,330 $ 7,343 $ 9,183 $ 2,707 $ 8,116 $ 8,005 $ 3
Net Income:($ 339,528) $ 892,970 $ 86,345 $ 259,683($ 93,563)($ 319,369) $ 39,646($ 41,946) $ 97,319 $ 97,420 $ 15,894($ 19,895) $ 45,638
Net Assets: $ 370,777 $ 453,675 $ 859,527 $ 161,431 $ 123,582 $ 475,624 $ 456,279 $ 750,127 $ 895,794 $ 943,476 $ 702,419 $ 291,616 $ 737,266

Participants

2022202120202019201820172016201520142013201220112010
Total Participants:32445196328510878031863580
Active Part.:272972205145939668584471
Retired Part.:90b91881191cabbf8988
Deceased Part.:91f5faef24a5533cff54ca7c

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.

    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.

    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).


OSHA