IMS CO LLC

1 INNOVATION DR
DES PLAINES, IL 60016

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 90% of peers.
  • In the last year, premium Decreased by 9%. While peers Increased an average of 1%.
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 8%. While peers Increased an average of 4%.
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.

  • 17% 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 1.2% increase, roughly 10x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 10.8% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.830
2023

1.708
2023

-
2023
06-01-2022

1.985
2023
06-01-2022

1.450
2022

1.985
2022

1.450
2022

1.580
2022

-
2022

-
2021

1.890
2021

1.450
2021

-
2020

-
2020

1.450
2019

-
2019

1.450
2019
01-01-2019

-
2019
06-01-2019

-
2019
06-01-2019

1.450
2018

-
2018

-
2018

1.680
2018

-
2017

-
2017

-
2017

1.680
2017

-
2016

-
2016

-
2016

1.110
2016
06-30-2015

-
2016
04-01-2016

-
2015

-
2015

-
2015

-
2015

1.110
2014

-
2014

-
2014

-
2014
04-01-2014

-
2013

-
2012

-

Contacts

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President
(463) 013-9000
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President
(203) 015-5530
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Domain Registrant
(481) 350-0869
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(219) 261-2305
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Benefits Admin
(727) 083-1991
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(987) 534-5025
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President
(537) 666-9649
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(098) 910-5707
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President
(182) 802-0924
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(671) 344-3346
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Manager
(157) 425-8800
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Benefits Admin
(053) 290-7652
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Benefits Admin
(252) 044-5324
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Benefits Admin
(029) 447-2114
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(975) 338-0602
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Director of Human Resources
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Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014201320122011
BOY Assets: $ 22,277,928 $ 99,897,411 $ 23,611,800 $ 31,939,611 $ 31,838,111 $ 16,856,296 $ 29,654,604 $ 52,795,192 $ 28,382,696 $ 5,511,929 $ 47,558,115
Liabilities: $ 0 $ 8 $ 8 $ 697 $ 8
EE Contrib: $ 1,593,445 $ 4,808,997 $ 1,867,868 $ 9,009,370 $ 4,426,775 $ 9,176,522 $ 376,736 $ 3,050 $ 630,802 $ 308,103 $ 627,530
Emp Contrib: $ 235,665 $ 520,875 $ 647,127 $ 843,665 $ 24,482 $ 25 $ 25 $ 87 $ 75
Income/Loss: $ 1,666,830 $ 240,540 $ 3,079,539($ 4,178,926) $ 9,370,571 $ 341,115($ 439,321) $ 5,352 $ 8,058,663 $ 149,714($ 646,817)
Total Income: $ 4,333,105 $ 9,262,060 $ 8,055,678 $ 357,578 $ 4,135,086 $ 9,714,615 $ 144,006 $ 7,019,600 $ 4,606,311 $ 6,119,332 $ 505,206
Paid Benefits: $ 1,345,088 $ 2,000,971 $ 4,974,186 $ 447,637 $ 15,828 $ 7,631,538 $ 640,673 $ 9,016,265 $ 365,075 $ 572,012 $ 77,162
Expenses: $ 0 $ 1 $ 26 $ 2 $ 5 $ 4 $ 9 $ 6
  Commission: $ 144,930 $ 514,107 $ 172,792 $ 240,649 $ 45,426 $ 13,353 $ 31,863 $ 4,943 $ 4,830 $ 7,746 $ 92,551
Net Income: $ 2,818,682 $ 1,759,795 $ 9,689,782 $ 74,317 $ 4,548,117 $ 980,467($ 619,473)($ 764,594) $ 204,288 $ 6,962,212($ 3,087,762)
Net Assets: $ 25,096,610 $ 34,973,269 $ 50,072,042 $ 30,446,799 $ 62,845,886 $ 5,612,781 $ 39,110,385 $ 86,950,705 $ 44,559,609 $ 85,272,147 $ 27,208,285

Participants

20212020201920182017201620152014201320122011
Total Participants:586159870042553756519523895480615
Active Part.:452997668651157576390944345054972
Retired Part.:81924438443
Deceased Part.:8943b32832215 98507

Insurance

No Insurance Coverage

Providers

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NOSEEITK LDGWROWULRC KXGIPWVBAKWVHParticipant loan processing
Sub-transfer agency fees
Recordkeeping fees
Account maintenance fees
Compensation:$74,686
Relation:RECORDKEEPER
LAQVSYAY EAZGLECAVSI SQQInvestment advisory (plan)
Compensation:$56,343
Relation:ADVISOR
HEG RDEMQTZFConsulting (general)
Compensation:$13,900
Relation:CONSULTANT
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Source: AMCENT INFL-ADJBD IV - AMERICAN CE
Sub-transfer agency fees
Compensation:0.25%

Features

    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.

    3B - Plan covering Self-Employed individuals.

    2E - Profit-sharing

    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.

Health Benefits

Financials

20212020201920182017201620152014201320122011
BOY Assets: $ 0 $ 49 $ 74 $ 72 $ 73 $ 78 $ 6 $ 2 $ 4 $ 683
Liabilities: $ 0 $ 18 $ 97 $ 1 $ 9 $ 4 $ 8 $ 4 $ 7 $ 6
EE Contrib: $ 0 $ 65 $ 28 $ 905 $ 5 $ 71 $ 40 $ 522
Emp Contrib: $ 0 $ 3 $ 1 $ 35 $ 94 $ 315 $ 47
Income/Loss: $ 0 $ 7 $ 18 $ 137 $ 8 $ 3 $ 8 $ 6 $ 1
Total Income: $ 0 $ 83 $ 372 $ 6 $ 0 $ 277
Paid Benefits: $ 0 $ 7 $ 14 $ 70 $ 39 $ 4 $1,000,000,000 $ 5
Expenses: $ 0 $ 49 $ 14 $ 962 $ 46 $ 20
  Commission: $ 0 $ 1 $ 24 $ 104 $ 3 $ 7 $ 4
Net Income: $ 0 $ 84 $ 21 $ 8 $ 40 $ 5 $ 4
Net Assets: $ 0 $ 7 $ 4 $ 4 $ 2 $ 23 $ 9 $ 62 $ 1 $ 22

Participants

20212020201920182017201620152014201320122011
Total Participants:425121481927247936659799745097445
Active Part.:425843124152974905293389502182391
Retired Part.:a6d6dbed4178 19a4466
Deceased Part.:f2fd4767e60b525ff7c45a

Insurance

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Renewal:07-31-2021
Covered:425
  1. Life Insurance
  2. Temp. Disability Insurance
  3. Long Term Disab. Ins
  4. ACCIDENTAL DEATH & DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 226,158
Commission12.99% $ 29,376
Fees3.28% $ 7,429
Brokers
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Renewal:07-31-2021
Covered:558
  1. Dental

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 203,371
Commission6.95% $ 14,127
Fees2.68% $ 5,447
Brokers
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Renewal:07-31-2021
Covered:377
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 25,068
Commission9.92% $ 2,486
Fees0% $ 0
Brokers
HIKLICCO DCLHKCBI XOQS AZMKFNGUG KVRUTVE
Renewal:07-31-2021
Covered:9
  1. ACCIDENT, CRITICAL ILLNESS

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 3,099
Commission9.49% $ 294
Fees0% $ 0
Brokers

Providers

No Providers

Features

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

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

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

    4Q - Other.


OSHA

Motor Carrier