STEEL BUILDING ATTITUDES INC

PO BOX 30914
KNOXVILLE, TN 37930

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 Higher than 86% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 6%. While peers Increased an average of 2%.
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.

  • 10% of peers have changed carriers since last year.
  • Of those who changed carriers, 13% decreased their LCM vs those who stayed with their current provider who saw a 4% increase, a difference of roughly 3x.
  • Current Carrier's market share is in the 1st percentile at 5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier LCM
2023

1.840
(Current: 1.980)
2022

1.740
2021

1.740
2020

1.690
2019

1.690
2018

1.650
2017

1.600
2016

1.600
2015

-
2015
02-27-2015

1.299
2014

-

Contacts

Tppspoyr Cetnrq
Founder
(367) 828-0554
ndobxfbo.pxxzms@yrzbx.cdz

LRPWH WSBKMH
Benefits Admin
(278) 352-5572
e37

Njqfpa Gdwcph
President
(132) 790-0550
805

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 2,007,139 $ 4,501,117 $ 6,370,376 $ 863,297 $ 6,525,482 $ 7,051,687 $ 7,741,220 $ 430,128 $ 34,963 $ 278,718 $ 498,656 $ 330,229
Liabilities: $ 0 $ 70 $ 51 $ 45 $ 285 $ 436 $ 44
EE Contrib: $ 52,079 $ 39,763 $ 88,134 $ 45,242 $ 45,737 $ 32,379 $ 63,730 $ 9,361 $ 62,054 $ 39,486 $ 9,696 $ 71,477
Emp Contrib: $ 24,069 $ 23,711 $ 62,952 $ 46,197 $ 59,545 $ 64,071 $ 8,453 $ 64,041 $ 8,012 $ 1,653 $ 96,765 $ 68,286
Income/Loss: $ 346,708 $ 230,738 $ 216,402($ 621,820) $ 455,259 $ 1,486($ 28,832) $ 21,987 $ 95,643 $ 81,804($ 37,706) $ 14,367
Total Income: $ 422,856 $ 267,765 $ 895,985($ 2,156) $ 477,262 $ 956,842 $ 34,518 $ 654,994 $ 538,535 $ 507,011 $ 46,325 $ 142,899
Paid Benefits: $ 0 $ 860,701 $ 8,705 $ 71,557 $ 55,780 $ 7,195 $ 69 $ 7,852 $ 55,021 $ 98,653 $ 74 $ 64,618
Expenses: $ 0 $ 5 $ 0 $ 704 $ 633 $ 1 $ 9 $ 8
  Commission: $ 0 $ 744 $ 23 $ 67 $ 7,469 $ 42 $ 3 $ 698 $ 89 $ 82 $ 9 $ 360
Net Income: $ 422,856 $ 98,801 $ 861,445($ 67,791) $ 539,931 $ 247,005 $ 71,686 $ 412,479 $ 749,345 $ 160,357 $ 53,539 $ 52,692
Net Assets: $ 2,429,995 $ 5,555,904 $ 7,424,249 $ 2,782,296 $ 7,090,270 $ 8,960,599 $ 2,407,623 $ 9,304,743 $ 946,597 $ 763,805 $ 480,341 $ 273,980

Participants

202120202019201820172016201520142013201220112010
Total Participants:205064722478398207586632
Active Part.:846857289525295b0eeae1f
Retired Part.:ba 4cfcb08bd3ca0cfa08315a
Deceased Part.:8998e5dcc34801cfd3

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.

    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).

    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.