GOLD & LEVY INC

3714 JARVIS AVE
SKOKIE, IL 60076

Talking Points

Premium

Worker's Comp premium is based on two key factors - the LCM your carrier has filed to use, and the total payroll you run over the policy term, which is multiplied by the rate to determine premium. Comparing premium to businesses in the same industry and of similar size can indicate how fair your WC insurance provider's costs are relative to the market.

  • Premium is Higher than 94% of peers.
  • In the last year, premium Decreased by 2%. While peers Increased an average of 4%.
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 90% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 2%. While peers Increased an average of 5%.
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.

  • 7% of peers have changed carriers since last year. Those who did, saw a 11.8% decrease in premium vs those who stayed with their current provider had a 5.4% increase, roughly 2x those who stayed with their current provider.
  • Of those who changed carriers, 1.8% increased their LCM vs those who stayed with their current provider who saw a 5.3% increase.
  • Current Carrier's market share is in the 99th percentile at 38.2% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

3.267
(Current: 3.590)
2022
11-08-2022

-
2021

3.190
2021
11-08-2020

1.800
2020

-
2020

1.985
2020

1.560
2020

1.419
2019

-
2019

1.560
2019

1.419
2018

-
2018

-
2018

1.419
2017

-
2017

-
2017

1.419
2016

-
2016

-
2016

1.419
2015

-
2015

-
2014

-

Contacts

HIVJTA TFEHW
Benefits Admin
(231) 760-3285
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RXEGCW7341
Benefits Admin
(368) 466-4186
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APTQGC QXPXKUE
Benefits Admin
(544) 196-1131
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Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015201420132012
BOY Assets: $ 935,485 $ 919,247 $ 625,027 $ 562,539 $ 19,886 $ 184,434 $ 444,211 $ 783,597 $ 2,734
Liabilities: $ 0 $ 281 $ 2 $ 5 $ 5 $ 1 $ 8 $ 85
EE Contrib: $ 48,614 $ 2,152 $ 80,267 $ 46,372 $ 75,743 $ 59,787 $ 92,486 $ 16,268 $ 96,230 $ 23,810
Emp Contrib: $ 25,707 $ 87,485 $ 24,981 $ 23,708 $ 36,817 $ 86,808 $ 11,890 $ 45,845 $ 28,667 $ 94,978
Income/Loss: $ 155,726 $ 881,101 $ 710,285($ 80,995) $ 65,451 $ 44,185($ 8,283) $ 2,452 $ 6,674 $ 8,659
Total Income: $ 230,047 $ 959,329 $ 307,621 $ 98,853 $ 578,986 $ 85,391 $ 86,359 $ 17,840 $ 39,431 $ 49,417
Paid Benefits: $ 41,169 $ 89,172 $ 85,342 $ 18,518 $ 66,627 $ 401 $ 42,304 $ 73,706 $ 2
Expenses: $ 0 $ 5 $ 8 $ 1 $ 0 $ 5 $ 2
  Commission: $ 110 $ 550 $ 388 $ 452 $ 510 $ 853 $ 907 $ 116 $ 59
Net Income: $ 188,768 $ 334,954 $ 467,356 $ 82,527 $ 18,673 $ 965,843 $ 40,935 $ 43,445 $ 93,129 $ 96,183
Net Assets: $ 1,124,253 $ 213,455 $ 675,260 $ 240,356 $ 340,929 $ 222,578 $ 513,894 $ 8,913 $ 170,847 $ 427

Participants

2021202020192018201720162015201420132012
Total Participants:36637418869588846736
Active Part.:1644171729028867fbe f
Retired Part.:285232777ee7 6129
Deceased Part.:c3c57549 972789c27517

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    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.