H & H BUSINESS VENTURES INC

1659 HIGHWAY 20 W
MCDONOUGH, GA 30253

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 100% of peers.
  • In the last year, premium Increased by 100%. While peers Increased an average of 0%.
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 in-line with peers, in the 48th percentile.
  • In the last year, LCM Decreased by 0%. 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.

  • 8% of peers have changed carriers since last year. Those who did, saw a 9.2% decrease in premium vs those who stayed with their current provider had a 0.4% increase, roughly 21x those who stayed with their current provider.
  • Of those who changed carriers, 5% decreased their LCM vs those who stayed with their current provider who saw a 0.7% decrease, a difference of roughly 7x.
  • Current Carrier's market share is in the 75th percentile at 1.2% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023
PEO
1.719
2022
PEO
1.726
2022

1.490
2021
PEO
1.805
2021
PEO
1.805
2021

1.390
2020
PEO
1.805
2020
PEO
1.805
2020

1.390
2020
04-24-2020

1.850
2019

1.850
2018

1.850
2017

1.850
2016

1.850
2015

1.850
2014

1.850

Contacts

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Program Manager
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Benefits Admin
(486) 908-3602
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Benefits Admin
(953) 413-1295
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Principal
(094) 856-9063
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Industry Classification

Retirement Benefits

Financials

20222021
BOY Assets: $ 163,791 $ 970
Liabilities: $ 0 $ 8
EE Contrib: $ 0 $ 7
Emp Contrib: $ 0 $ 7
Income/Loss: $ 46,717($ 49,806)
Total Income: $ 46,717($ 36,390)
Paid Benefits: $ 0
Expenses: $ 0 $ 1
  Commission: $ 0
Net Income: $ 46,717($ 13,805)
Net Assets: $ 210,508 $ 753,127

Participants

20222021
Total Participants:37
Active Part.:38
Retired Part.:cb2
Deceased Part.:19

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.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    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.