CANNON INDUSTRIES INC

525 LEE ROAD
ROCHESTER, NY 14606

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 2nd 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.

  • 18% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 9.1% 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

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.032
2022

1.359
2021

1.308
2021

1.032
2020

1.308
2020

1.032
2019

1.530
2019

1.190
2018

1.190
2018

1.530
2017

1.280
2017

1.530
2016

1.280
2015

-
2014

-

Contacts

FCOXEM XTDDZB
Benefits Admin
(566) 541-7775
3d8a9

RQCS TOEOCX
Benefits Admin
(257) 930-3219
23293

PTSJM NSNLQMS
Benefits Admin
(712) 470-9461
8efd

Industry Classification

Retirement Benefits

Financials

202120202019201820172016
BOY Assets: $ 1,000,951 $ 3,554,713 $ 5,431,240 $ 9,357,454 $ 9,149,384 $ 119,680
Liabilities: $ 0 $ 0 $ 9 $ 5
EE Contrib: $ 0 $ 4 $ 6 $ 4 $ 8 $ 583
Emp Contrib: $ 0 $ 91,296 $ 66,642 $ 73,400 $ 468,127
Income/Loss: $ 143($ 9,251) $ 41,777 $ 675($ 42,913) $ 6,767
Total Income: $ 143 $ 88,747 $ 38,794 $ 61,387($ 8,325) $ 139,429
Paid Benefits: $ 0 $ 602,657 $ 43,570 $ 914,441
Expenses: $ 0 $ 3 $ 401 $ 2 $ 7
  Commission: $ 0 $ 9 $ 1 $ 5 $ 4
Net Income: $ 143($ 57,658)($ 77,920)($ 37,933)($ 77,236) $ 783,037
Net Assets: $ 1,001,094 $ 2,643,062 $ 8,743,963 $ 8,439,848 $ 7,770,910 $ 80,605

Participants

202120202019201820172016
Total Participants:397893713999
Active Part.:390038053936
Retired Part.:ef4ee1c57
Deceased Part.:a4661266464

Insurance

No Insurance Coverage

Providers

No Providers

Features

    1A - Benefits are primarily pay related

    1C - Cash balance or similar plan - Plan has a "cash balance" formula. For this purpose, a "cash balance" formula is a benefit formula in a defined benefit plan by whatever name (for example, personal account plan, pension equity plan, life cycle plan, cash account plan, etc.) that rather than, or in addition to, expressing the accrued benefit as a life annuity commencing at normal retirement age, defines benefits for each employee in terms more common to a defined contribution plan such as a single sum distribution amount (for example, 10 percent of final average pay times years of service, or the amount of the employee's hypothetical account balance).

    1D - Floor-offset plan - Plan benefits are subject to offset for retirement benefits provided by an employer-sponsored defined contribution plan.

    1I - Frozen Plan - As of the last day of the plan year, the plan provides that no participant will get any new benefit accrual (whether because of service or compensation).

Health Benefits

Financials

202120192018
BOY Assets: $ 0
Liabilities: $ 0 $ 8
EE Contrib: $ 0 $ 7 $ 8
Emp Contrib: $ 0 $ 4
Income/Loss: $ 0 $ 6 $ 65
Total Income: $ 0 $ 3
Paid Benefits: $ 0 $ 2
Expenses: $ 0
  Commission: $ 0 $ 0
Net Income: $ 0 $ 810
Net Assets: $ 0 $ 0 $ 3

Participants

202120192018
Total Participants:97203284
Active Part.:97440042
Retired Part.:cb43
Deceased Part.:96

Insurance

BUEBWP OD ICYVO
Renewal:12-31-2021
Covered:10
  1. VOL LIFE

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 5,878
Commission10% $ 588
Fees4.37% $ 257
Brokers
QPGVHT CW NNHNU
Renewal:12-31-2021
Covered:97
  1. Life Insurance
  2. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 8,973
Commission10% $ 897
Fees4.36% $ 391
Brokers
OKBRLOBC ULEU SDXMW FLII NQVCZV
Renewal:12-31-2021
Covered:36
  1. Health

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 337,693
Commission4.52% $ 15,263
Fees0% $ 0
Brokers
CRT TDLOBNQN LOXF JDFYLFSAC QPZFPVA
Renewal:12-31-2021
Covered:35
  1. Dental
  2. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 20,332
Commission9.4% $ 1,911
Fees11.18% $ 2,274
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4B - Life insurance.

    4C - Supplemental unemployment.


OSHA

Motor Carrier