ALL RITE SPRING CO

2302 SPRING RIDGE DR
SPRING GROVE, IL 60081

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Needs Attention

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 in-line with peers, in the 74th percentile.
  • In the last year, premium Increased by 0%. While peers Increased an average of 2%.
Average

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 18th percentile compared to peers.
  • In the last year, LCM Increased 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.

  • 18% of peers have changed carriers since last year. Those who did, saw a 11.9% decrease in premium vs those who stayed with their current provider had a 4.7% increase, roughly 3x those who stayed with their current provider.
  • Of those who changed carriers, 12.7% decreased their LCM vs those who stayed with their current provider who saw a 4.1% increase, a difference of roughly 3x.
  • Current Carrier's market share is in the 50th percentile at 2.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.501
(Current: 0.830)
2021

1.500
2020

-
2019

-
2019
12-15-2018

-
2018

-
2017

-
2016

-
2015

-
2014

-

Contacts

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(957) 804-4055
brtor@uycwdix.ixr

VYMJEN TEBLCXKM
Benefits Admin
(527) 411-0397
950

BRPRQL KIYMSJQQ
Owner
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ksaovp@tdemkjqpccm.tcr

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 2,394,061 $ 5,289,526 $ 8,704,560 $ 1,981,083 $ 45,260 $ 7,273,140 $ 7,811,570 $ 873,973 $ 688,814 $ 640,125 $ 378,618 $ 531,514
Liabilities: $ 0 $ 10 $ 2 $ 7 $ 2 $ 1 $ 57 $ 87 $ 5 $ 5
EE Contrib: $ 177,784 $ 252,318 $ 907,570 $ 309,336 $ 517,833 $ 358,145 $ 230,398 $ 882,255 $ 707,826 $ 4,988 $ 819,188 $ 98,802
Emp Contrib: $ 81,581 $ 39,636 $ 7,165 $ 9,329 $ 82,864 $ 80,535 $ 10,423 $ 81,198 $ 64,946 $ 70,219 $ 82,817
Income/Loss: $ 235,502 $ 809,911 $ 101,638($ 15,610) $ 895,400 $ 95,744($ 667) $ 83,818 $ 44,263 $ 83,011($ 284) $ 90,058
Total Income: $ 494,867 $ 20,878 $ 474,048 $ 462,061 $ 456,905 $ 215,957 $ 784,638 $ 149,354 $ 309,447 $ 551,984 $ 240,773 $ 571,416
Paid Benefits: $ 19,219 $ 17,088 $ 634,717 $ 1 $ 93,703 $ 99,005 $ 80,802 $ 66,778 $3,000,000,000 $ 7 $ 68,869
Expenses: $ 0 $ 3 $ 0 $ 5 $ 86
  Commission: $ 650 $ 240 $ 576 $ 679 $ 11 $ 315 $ 998 $ 47 $ 2,584 $ 89 $ 4
Net Income: $ 474,998 $ 206,687($ 741,839) $ 128,242 $ 43,611 $ 33,064 $ 146,590 $ 252,341 $ 429,547 $ 478,425 $ 625,331 $ 62,811
Net Assets: $ 2,869,059 $ 4,925,126 $ 2,631,716 $ 3,628,706 $ 4,590,521 $ 5,003,018 $ 6,197,789 $ 1,058,564 $ 209,360 $ 131 $ 848,548 $ 59,759

Participants

202120202019201820172016201520142013201220112010
Total Participants:502234735374920899961971
Active Part.:4780715514329566f29029fb3
Retired Part.:d0fe8fb0b f01f43fcf2c1c3e
Deceased Part.:69ae5a839 e3970f9 99

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.

    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.