MESSINA GROUP

8755 W HIGGINS RD STE 250
CHICAGO, IL 60631

Talking Points

For the Agent

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

  • Premium decreased after the policy was bound. Did payroll drop, or a last minute credit?
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 Higher than 78% of peers.
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 75% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • LCM Increased by more than 75% of peers.
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.

  • 5% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 50th percentile at 3.6% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.300
2023

1.950
2023

-
2023

1.460
2023

-
2023

1.040
2023

1.600
2022

2.000
2022

2.050
2022

3.000
2022

-
2022

1.600
2021

2.000
2021

1.900
2021

3.000
2021

-
2020

-
2020

3.000
2019

-
2019
01-01-2018
AR
-
2018
AR
-
2017
AR
-
2016
01-01-2016
AR
-
2015
01-01-2015

-
2014
12-01-2013

-
2014
01-01-2014
AR
-

Contacts

Dtmu Zpenwn
Vice President
(366) 168-0082
2b37

Evuwn Rhtwpwau
President
1109
feluc@lucyvtz.pov

Industry Classification

Retirement Benefits

Financials

2021
BOY Assets: $ 0
Liabilities: $ 0
EE Contrib: $ 97,254
Emp Contrib: $ 0
Income/Loss: $ 2,197
Total Income: $ 99,451
Paid Benefits: $ 0
Expenses: $ 0
  Commission: $ 565
Net Income: $ 98,886
Net Assets: $ 98,886

Participants

2021
Total Participants:26
Active Part.:23
Retired Part.:
Deceased Part.:

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.

    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.

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