SECURITY BENEFIT CORP

600 STEAMBOAT RD FL 2
GREENWICH, CT 06830

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 34th percentile compared to peers.
  • In the last year, LCM Decreased by 7%. While peers Increased an average of 1%.
Average

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.

  • 13% of peers have changed carriers since last year.
  • Of those who changed carriers, 1.7% decreased their LCM vs those who stayed with their current provider who saw a 1.1% increase.
  • Current Carrier's market share is in the 95th percentile at 11.9% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.406
2023

1.250
2022

1.320
2022

1.092
2022

1.739
2022

1.350
2022

1.360
2022

1.260
2022

1.384
2022

-
2022

1.120
2022

-
2022

1.460
2022

1.480
2022

-
2022

1.276
2022

1.275
2022

1.172
2022

1.313
2022

1.558
2022

1.308
2022

1.295
2022

1.275
2021

1.320
2021

1.092
2021

-
2021

1.350
2021

1.238
2021

1.213
2021

1.384
2021

-
2021

1.200
2021

-
2021

1.460
2021

1.400
2021

1.160
2021

1.275
2021

1.172
2021

1.122
2021

1.313
2021

1.500
2021

1.138
2021

1.295
2021

1.275
2020

1.320
2020

-
2020

-
2020

-
2020

1.213
2020

1.238
2020

-
2020

1.384
2020

1.200
2020

-
2020

1.460
2020

1.295
2020

1.070
2020

1.159
2020

1.148
2020

-
2020

1.060
2020

1.360
2020

1.500
2020

1.138
2019

0.850
2019

-
2019

-
2019

1.061
2019

1.125
2019

-
2019

0.900
2019

-
2019

-
2019

1.065
2019

0.892
2019

-
2019

1.060
2019

1.073
2019

1.120
2019

-
2019

0.985
2019
12-01-2019

-
2019
12-01-2019

0.800
2019
12-01-2019

1.000
2018

-
2018

-
2018

-
2018

1.061
2018

1.125
2018

-
2018

0.900
2018

1.000
2018

-
2018

0.892
2018

-
2018

1.060
2018

-
2018

0.985
2018

1.125
2017

-
2017

-
2017

1.603
2017

1.666
2017

-
2017

1.764
2017

1.290
2017

-
2017

1.692
2017

1.764
2017

-
2017

-
2017

1.290
2017

-
2017

2.062
2017

2.151
2017
12-01-2017

-
2017
12-01-2017

1.800
2016

-
2016

-
2016

-
2016

-
2016

-
2016

1.666
2016

1.603
2016

1.666
2016

-
2016

1.692
2016

1.603
2016

-
2016

1.290
2016

1.692
2016

-
2016

-
2016

2.151
2015

-
2015

-
2015

-
2015

1.666
2015

-
2015

-
2015

-
2015

1.603
2015

-
2014

-
2014

-
2014

-
2014

1.666
2014

-
2014

-
2014

1.603
2014

-
2013

-
2013

1.416
2013

-
2013

-
2013

-
2012

-
2012

1.250

Contacts

AEJOALD KYOAPPC
Benefits Admin
(352) 219-9483
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Benefits Admin
(819) 616-9816
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CJPHKMJ W OHNQHEF HP
Benefits Admin
(759) 218-6874
820

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Benefits Admin
(456) 976-4161
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FOVNV O. QADZSIY
Benefits Admin
(202) 031-8064
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LBFDTDI Y. OMBMTQB VG
Benefits Admin
(117) 910-7483
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LGVQGIZ X. QTAGZSM, TV.
Benefits Admin
(053) 042-4865
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VSHL FMMJN
Benefits Admin
(668) 796-0058
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RWUI NMQBM
Benefits Admin
(191) 032-3853
847

TVG MBHOH
Benefits Admin
(677) 237-1442
8c415

Mlug Li Kyfwtr
President
(595) 923-6080
4927

ZCBTAWS TKZZQIA
Benefits Admin
(241) 030-5176
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HPGZO W XAOCBCVP
Benefits Admin
(032) 659-0050
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Investment Actuary
(256) 838-1132
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TNSUY WQ
Benefits Admin
(601) 569-9987
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XDQUR FJUKOKN
Benefits Admin
(884) 983-4686
03fc

MYYSF AYURUPCK
Benefits Admin
(179) 639-8887
0140

XROLB ZQDBZTRS
Benefits Admin
(199) 717-0790
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YKE VSQVPBGW
Benefits Admin
(916) 971-4704
829

WEZBJZF XJQRGCKM
Benefits Admin
(954) 445-8401
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IZXOU XDHNSWK
Benefits Admin
(659) 575-8265
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HZQWB QWBPOF-QHJAMAAK
Benefits Admin
(478) 085-2108
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ZSLYJ NTSIXCRM
Benefits Admin
(842) 857-7266
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VOPNM JQQBIZSW
Benefits Admin
(701) 342-1098
23fc4

QARJA U DDHJPZMY
Benefits Admin
(066) 717-3428
097

WPXSW LIU
Benefits Admin
(854) 705-2106
288

5
(022) 969-8725
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Ufpvcur Vxzh
Vice President
(086) 685-7368
ywtpebt.zgjj@wjqkevghzuheulfsicfr.opi

Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014
BOY Assets: $ 53,755,153 $ 22,783,396 $ 97,264,172 $ 14,659,233 $ 80,920,986 $ 37,813,387 $ 57,672,260 $ 69,892,277
Liabilities: $ 0 $ 1,099,045 $ 7,951 $ 5,840 $ 7,252 $ 25 $ 5 $ 341
EE Contrib: $ 0 $ 10,000,000 $ 4 $ 9 $ 7 $ 6 $ 1
Emp Contrib: $ 0 $ 9 $ 3 $ 7,718,878 $ 24,060,277 $ 275,299
Income/Loss: $ 7,700,981 $ 2,099,520 $ 4,739,447($ 3,190,057) $ 7,287,746 $ 4,531,187($ 8,187,898) $ 134,844
Total Income: $ 9,018,940 $ 7,759,934 $ 8,179,960($ 4,466,872) $ 717,654 $ 38,353,151($ 232,611) $ 7,533,662
Paid Benefits: $ 1,943,968 $ 4,769,277 $ 63,114,348 $ 4,906,365 $ 1,107,692 $ 8,751,674 $ 4,718,661 $ 385,683
Expenses: $ 0 $ 30 $ 3 $ 6 $ 2 $ 3 $ 5
  Commission: $ 818 $ 8,186 $ 52,214 $ 8,586 $ 2,440 $ 14 $ 35 $ 9
Net Income: $ 7,074,154 $ 4,298,749($ 9,190,952)($ 891,909) $ 1,634,829 $ 57,085,376($ 2,450,498) $ 7,160,874
Net Assets: $ 60,829,307 $ 93,694,822 $ 18,934,420 $ 79,971,047 $ 87,734,360 $ 92,819,846 $ 53,799,324 $ 62,906,356

Participants

20212020201920182017201620152014
Total Participants:502986628928809577602938
Active Part.:177494859759656590474381
Retired Part.:226979162665416734981873
Deceased Part.:1701586807859147

Insurance

No Insurance Coverage

Providers

No Providers

Features

    1A - Benefits are primarily pay related

    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).

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

Health Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 6,867,617 $ 7,646,801 $ 3,568,495 $ 7,792,351 $ 906,794 $ 5,421,958 $ 5,039,562 $ 2,113,918 $ 448,670 $ 343,387 $ 141,660 $ 92,436
Liabilities: $ 0 $ 21 $ 5 $ 5 $ 5 $ 59 $ 5 $ 9 $ 29 $ 78
EE Contrib: $ 5,244,108 $ 9,168,190 $ 2,699,517 $ 8,567,757 $ 6,090,198 $ 3,947,535 $ 8,582,604 $ 416,083 $ 5,423,264 $ 5,842,519 $ 5,403,086 $ 8,543,213
Emp Contrib: $ 15,204,627 $ 22,362,775 $ 32,389,434 $ 26,689,965 $ 37,821,019 $ 74,593,458 $ 9,325,479 $ 3,710,681 $ 4,496,706 $ 582,330 $ 5,716,947 $ 2,083,901
Income/Loss: $ 0 $ 68 $ 397 $ 7
Total Income: $ 20,460,744 $ 96,673,770 $ 66,540,569 $ 43,500,994 $ 83,489,040 $ 42,224,862 $ 88,766,926 $ 25,934,685 $ 98,578,936 $ 5,382,799 $ 1,116,012 $ 572,518
Paid Benefits: $ 17,561,469 $ 55,458,207 $ 1,551,558 $ 75,151,545 $ 23,361,845 $ 92,327,246 $ 61,887,794 $ 6,920,284 $ 5,982,934 $ 3,919,614 $ 9,823,867 $ 4,013,497
Expenses: $ 0 $ 6 $ 985 $ 9 $ 7 $ 4 $ 22 $ 6 $ 19
  Commission: $ 796,440 $ 834,498 $ 518,545 $ 851,488 $ 305,658 $ 352,138 $ 847,192 $ 908,191 $ 81,500 $ 11,936 $ 890,342 $ 722,621
Net Income: $ 2,102,835 $ 7,217,860 $ 57,127($ 392,929) $ 6,417,767 $ 2,168,109 $ 856,541 $ 9,895,111 $ 1,144,023($ 429,629)($ 58,333) $ 186,500
Net Assets: $ 8,970,452 $ 4,273,199 $ 781,927 $ 4,067,028 $ 7,406,165 $ 6,221,251 $ 7,011,976 $ 8,654,556 $ 2,873,278 $ 305,782 $ 266,963 $ 469,577

Participants

202120202019201820172016201520142013201220112010
Total Participants:1535535209054860410412662554326453053259939
Active Part.:1516326969944622685075699934732777627239464
Retired Part.:193569579164140015473337185
Deceased Part.:10ae58a18df6c5

Insurance

ZLQSNDGW MGVP WOM UHGOTCNG
Renewal:02-28-2021
Covered:1367
  1. BUSINESS TRAVEL ACCIDENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 750
Commission15.07% $ 113
Fees2% $ 15
Brokers
UJG IZUO UTKMUTWYH DGOEHJT HQ MCAPED
Renewal:03-31-2021
Covered:1516
  1. Life Insurance
  2. Long Term Disab. Ins
  3. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 822,355
Commission0% $ 0
Fees1.29% $ 10,617
Brokers
KAKIMS FVHEHHPXNG DIDEBLRBV FCFXAZQ
Renewal:03-31-2021
Covered:2810
  1. Stop Loss

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,629,684
Commission0% $ 0
Fees0% $ 0
NOCLOY KBMCKK MHFP
Renewal:03-31-2021
Covered:2139
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 127,202
Commission10.71% $ 13,622
Fees0% $ 0
Brokers
NKOYWC NWIHJY EMVU
Renewal:03-31-2021
Covered:19
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 668
Commission12.57% $ 84
Fees0% $ 0
Brokers
YQQ-EFIH DFVXN YDBHVAII TVJ YDLLKNXSEOJ
Renewal:03-31-2021
Covered:218
  1. LEGAL SERVICES PLAN MEMBERSHIPS

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 37,379
Commission17.57% $ 6,567
Fees0% $ 0
Brokers

Providers

VZPQR FOMYUA RX FUCFQOContract Administrator
Compensation:$40,823
Relation:CONTRACT ADMINISTRATOR
SLOSEH CGEQPWASOT JNEDTVPC, TRL.Claims processing
Other services
Compensation:$900,976
Relation:CLAIMS PROCESSOR
PLV, LES.Contract Administrator
Compensation:$18,690
Relation:FSA ADMINISTRATOR

Features

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

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4G - Prepaid legal.

    4H - Long-term disability.

    4L - Death benefits (include travel accident but not life insurance).