Masonry Magazine September 1967 Page. 21
Insurance for Contractors
(Continued from page 16)
Example No. 2- Three Year Plan
| | First Year | Second Year | Third Year |
|---|---|---|---|
| Manual Premium | $15,000 | $14,000 | $15,600 |
| Experience Modification | X .80 | × 75 | × 82 |
| Standard Premium | $12,000 | $10,500 | $12,792 (3rd Yr.) +10,500 (2nd Yr.) +12,000 (1st Yr.) |
| | | $22,500 | $35,292 |
| *Basic Premium | 18% Or $ 2,160 | 18% Or 3 4,050 | 18% Or $ 6,353 |
| Minimum Premium | 45% Or $ 5,400 | 45% Or $10,125 | 45% Or $15,881 |
| Maximum Premium | 130% Or $15,600 | 130% Or $29,250 | 130% Or $45,880 |
| Loss Conversion Factor | 1.14 | 1.14 | 1.14 |
| Tax Multiplier | 1.03 | 1.03 | 1.03 |
| Actual Losses Incurred | $ 5,000 | $11,500 | $ 2,000 |
*Variable each year under some plans
First Retrospective Adjustment (First Year)
| Basic Premium | Incurred Losses | Convr Factor | Tax Multiplier | Retro Premium | Paid to Date | Result |
|---|---|---|---|---|---|---|
| $2,160 | $5,000 | 1.14 | 1.03 | $8,096 | $12,000 | $3,904 Refund |
Second Retrospective Adjustment (First & Second Years)
$4,050 $16,500 1.14 1.03 $23,546 $18,596 $4,950 Add'l
Third Retrospective Adjustment (All Three Years)
$6,353 $18,500 1.14 1.03 $28,266 $36,338 $8,072 Refund
Continued Next Month
Develop New "Brick Value House"
A solid, three-bedroom brick house with several distinctly non-low income features has been built for the low-income housing market. It's called the "Brick Value House", offers 1,015 sq. ft. of space, and was built for $7,500.
Financed and developed by the North Carolina brick industry, and built near Durham by a leading homebuilder, the house is a demonstration project to help solve that state's housing shortage.
It combines low building cost (the $7,500 includes materials at full price), low maintenance, and a flexible floor plan, and can easily be customized to individual buyer's tastes.
Using systems building, the design eliminates time and money-wasting construction. Pre-fabricated door, window and roof components are combined with the flexibility of custom-built brickwork. Walls are 9-inch vermiculite filled cavity walls based on the Spartan Wall System (two wythes of 3-inch brick with a 3-inch cavity).
Once footings and foundation are ready, pre-fab door and window panels are propped up (these are floor to ceiling height); bricklayers quickly brick in the remaining (Continued on page 32) masonry • September, 1967
here's a Strong - Portable - Reliable-and Inexpensive answer For Your Hoisting Needs
wyco
LAD-E-VATOR
Lifts up to 1250 lbs. 80 ft. high; pulls behind any car or truck; sets up in less than 10 minutes; completely automatic. For full information, write for the all new catalog WL-67
LAD-E-VATOR
Division of
Wyco Tool Co.
P. O. Box 306
Des Plaines, III.
19