PADRINO PROMOS LLC

1018 ELM HILL PIKE
NASHVILLE, TN 37210

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 16th percentile compared to peers.
  • In the last year, LCM Decreased by 34%. While peers Increased an average of 1%.
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.

  • 10% of peers have changed carriers since last year.
  • Of those who changed carriers, 2.3% decreased their LCM vs those who stayed with their current provider who saw a 0.9% increase, a difference of roughly 2x.
  • Current Carrier's market share is in the 95th percentile at 4.8% 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

1.220
2023

1.120
2022

1.150
2022

-
2022

1.500
2022

-
2022

-
2022

1.350
2022

1.220
2022

1.696
2022

1.120
2022
11-25-2021

1.270
2022
11-25-2021

-
2022
11-25-2021

-
2021

1.200
2021

-
2021

-
2021

1.500
2020

1.068
2020

-
2020

1.502
2019

1.068
2019

1.236
2019
11-25-2019

-
2018

1.068
2018

1.460
2018

1.078

Contacts

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(302) 388-6344
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PIO IATBNX
Benefits Admin
(351) 279-7368
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Qukixp Xyposj
Director of Marketing
(039) 137-1338
oums@ubtbdhugjgmiq.xwb

UNEQPM EAIEEF
Benefits Admin
(791) 516-3110
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Ilkn Ujobnaun
VP
(348) 721-1393
ouvg@vydhgbyyweovkt.ltg

Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014
BOY Assets: $ 1,156,641 $ 122,133 $ 879,202 $ 287,313 $ 768,276 $ 146,117 $ 48,933
Liabilities: $ 0 $ 8 $ 8 $ 8 $ 1 $ 602 $ 8
EE Contrib: $ 189,742 $ 525,176 $ 729,746 $ 220,666 $ 29,349 $ 80,617 $ 478 $ 46,777
Emp Contrib: $ 109,663 $ 43,766 $ 902,348 $ 43,820 $ 35,538 $ 72,668 $ 61,999 $ 6,349
Income/Loss: $ 211,905 $ 904,368 $ 761,225($ 73,605) $ 12,517 $ 18,001($ 1,323) $ 331
Total Income: $ 511,310 $ 716,965 $ 587,345 $ 782,718 $ 304,901 $ 63,266 $ 3,439 $ 86,162
Paid Benefits: $ 43,077 $ 263,719 $ 6,237 $ 6,333 $ 3,089 $ 5,289 $ 741
Expenses: $ 0 $ 3 $ 3 $ 34
  Commission: $ 0 $ 5 $ 86 $ 7,805 $ 453 $ 6,316 $ 30,000
Net Income: $ 468,233 $ 415,109 $ 100,513 $ 673,446 $ 220,543 $ 454,625 $ 63,505 $ 12,172
Net Assets: $ 1,624,874 $ 9,396,661 $ 999,264 $ 77,740 $ 512,502 $ 759,489 $ 583,702 $ 43,350

Participants

20212020201920182017201620152014
Total Participants:5724806088996095
Active Part.:5260303038757497
Retired Part.:4e8d4842af846205243b
Deceased Part.:417e12bacb7f

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.

    3B - Plan covering Self-Employed individuals.

    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.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).


OSHA