CENTRAL ILLINOIS LOANS INC

PO BOX 35
CANTON, IL 61520

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 Higher than 84% of peers.
  • In the last year, premium Decreased by 16%. While peers Increased an average of 6%.
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 81% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Decreased by 5%. While peers Increased an average of 6%.
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 11.2% decrease in premium vs those who stayed with their current provider had a 7.7% increase.
  • Of those who changed carriers, 3.7% increased their LCM vs those who stayed with their current provider who saw a 5.7% increase.
  • Current Carrier's market share is in the 75th percentile at 1.4% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2022

2.949
(Current: 2.723)
2021

3.090
2020

-
2019

-
2018

-
2017

-
2016

-
2015

-
2014

-

Contacts

KTUECJW KUPIAP
Benefits Admin
(131) 204-3561
883af

Npjjhoi Suicbr
Owner
(512) 922-2360
52c

34a
(336) 417-0725
fe789

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,439,866 $ 5,901,458 $ 3,724,455 $ 971,559 $ 637,907 $ 168,809 $ 453,815 $ 434,342 $ 837,165 $ 268,631 $ 325,680 $ 13,699
Liabilities: $ 0 $ 68 $ 8 $ 0 $ 3 $ 0 $ 80 $ 80,000,000
EE Contrib: $ 38,137 $ 28,632 $ 66,972 $ 587,305 $ 79,197 $ 84,699 $ 4,182 $ 386,733 $ 9,943 $ 36,430 $ 2,039 $ 9,231
Emp Contrib: $ 25,642 $ 24,954 $ 55,153 $ 10,611 $ 88,816 $ 9,629 $ 28,952 $ 33,960 $ 32,237 $ 3,147 $ 8,220 $ 7,830
Income/Loss: $ 146,993 $ 886,945 $ 80,693($ 69,064) $ 41,846 $ 71,401 $ 9,688 $ 6,374 $ 90,311 $ 30,341($ 380) $ 41,182
Total Income: $ 210,772 $ 712,832 $ 305,979 $ 327,233 $ 823,104 $ 37,315 $ 18,033 $ 921,258 $ 97,834 $ 32,639 $ 77,693 $ 78,998
Paid Benefits: $ 58,000 $ 40,074 $ 865 $ 56,108 $ 6 $ 569,178 $ 860 $ 18 $ 886
Expenses: $ 0 $ 248 $ 63 $ 6 $ 3
  Commission: $ 8,677 $ 2,821 $ 7,117 $ 5,025 $ 9,905 $ 8,739 $ 2,737 $ 4,778 $ 15 $ 44 $ 0 $ 913
Net Income: $ 144,095 $ 401,451 $ 662,810 $ 509,258 $ 39,154 $ 51,423($ 395,120) $ 145,466 $ 20,620 $ 91,782 $ 74,308 $ 29,991
Net Assets: $ 1,583,961 $ 5,109,402 $ 5,405,885 $ 2,268,118 $ 215,158 $ 856,039 $ 691,988 $ 246,236 $ 921,146 $ 30,954 $ 469,543 $ 740,716

Participants

202120202019201820172016201520142013201220112010
Total Participants:256209665654530539164
Active Part.:23149022738219968960a0fd
Retired Part.:4d5e70b75dce34 b0b
Deceased Part.:c397b32c25bc5fbf3bbc

Insurance

No Insurance Coverage

Providers

No Providers

Features

    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.

    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.

    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.

    2E - Profit-sharing

    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.