URBAN HI-FI LLC

7316 CARROLL AVE
TAKOMA PARK, MD 20912

Talking Points

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
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 Very Good, in the 8th percentile compared to peers.
Good

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.

  • 12% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 13.5% of the market.
Good

Business Stats

Policy History

Term Carrier LCM
2022

1.015
2022
09-21-2021

1.184
2021
08-13-2021

1.015
2020

0.985
2019

0.985
2019
09-21-2018

0.985
2018

0.985
2017

0.949

Contacts

CAJHKL NQSKI
Benefits Admin
(347) 538-8880
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(702) 716-4658
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Industry Classification

Retirement Benefits

Financials

202120202019
BOY Assets: $ 14,025 $ 6,931 $ 7
Liabilities: $ 0 $ 7
EE Contrib: $ 14,855 $ 58,823 $ 1,566
Emp Contrib: $ 0 $ 1
Income/Loss: $ 2,806 $ 9,906 $ 89
Total Income: $ 17,661 $ 16,411 $ 2,971
Paid Benefits: $ 2,086 $ 637
Expenses: $ 0 $ 128
  Commission: $ 185 $ 48 $ 3
Net Income: $ 15,390 $ 52,644 $ 6,271
Net Assets: $ 29,415 $ 29,068 $ 4,920

Participants

202120202019
Total Participants:701
Active Part.:602
Retired Part.:af7f
Deceased Part.:c1fb4

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    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.