FINANCE OF AMERICA EQUITY CAPITAL LLC

5830 GRANITE PKWY STE 400
PLANO, TX 75024

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 94% of peers.
  • In the last year, premium Increased by 121%. While peers Increased an average of 6%.
Needs Attention

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is in-line with peers, in the 59th percentile.
  • There was a recent mod increase.
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 93% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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.

  • 13% of peers have changed carriers since last year. Those who did, saw a 14.7% decrease in premium vs those who stayed with their current provider had a 9.4% increase.
  • Current Carrier's market share is in the 99th percentile at 16.3% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

0.900
2023

-
2023
PEO
1.369
2022

1.800
2022

2.477
2022

2.111
2022

2.910
2022

2.510
2022

1.950
2022

2.033
2022

2.350
2022

-
2022

2.351
2022

-
2022

-
2022

1.764
2022

-
2022

2.523
2022

1.960
2022

2.322
2022

1.800
2022

1.545
2022

1.282
2022

2.020
2022

2.240
2022

2.500
2022

1.900
2021

1.800
2021

2.477
2021

2.111
2021

2.910
2021

2.510
2021

1.950
2021

2.033
2021

2.350
2021

-
2021

2.350
2021

-
2021

-
2021

1.764
2021

-
2021

2.523
2021

1.960
2021

2.322
2021

1.800
2021

1.545
2021

1.282
2021

2.020
2021

2.550
2021

2.240
2021

2.500
2021

1.719
2020

1.800
2020

-
2020

2.477
2020

-
2020

2.506
2020

1.950
2020

2.350
2020

-
2020

2.350
2020

2.250
2020

-
2020

-
2020

1.764
2020

2.459
2020

2.322
2020

1.800
2020

-
2020

1.282
2020

2.020
2020

2.250
2020

2.240
2020

2.500
2020

1.719
2020

-
2019

1.666
2019

2.300
2019

-
2019

2.506
2019

-
2019

1.603
2019

-
2019

2.627
2019

1.446
2019

-
2019

1.433
2019

2.350
2019

2.000
2019

2.120
2019

-
2019

1.764
2019

-
2019

1.840
2019

1.603
2019

1.800
2019

-
2019

1.290
2019

-
2019

2.120
2019

-
2019

2.325
2019

1.719
2019

-
2019
01-19-2018

-
2019
01-19-2018

-
2019
01-19-2018

-
2019
01-19-2018

-
2019
01-19-2018

2.328
2019
01-19-2018

2.719
2018

1.666
2018

2.477
2018

-
2018

-
2018

-
2018

1.603
2018

2.118
2018

-
2018

1.193
2018

-
2018

1.806
2018

2.219
2018

1.446
2018

1.866
2018

1.433
2018

2.200
2018

1.692
2018

2.120
2018

-
2018

1.764
2018

-
2018

1.800
2018

-
2018

2.120
2018

-
2018

2.218
2018

1.719
2018
11-15-2017

2.719
2017

-
2017

-
2017

2.174
2017

-
2017

-
2017

-
2017

-
2017

2.219
2017

1.052
2017

1.359
2017

1.433
2017

-
2017

1.692
2017

2.120
2017

-
2017

-
2017

-
2017

1.800
2017

-
2017

2.120
2017

-
2017

2.062
2017

2.168
2017

1.719
2017

-
2017

1.759
2017
03-02-2016

1.866
2016

-
2016

-
2016

-
2016

-
2016

-
2016

-
2016

2.219
2016

1.359
2016

1.433
2016

-
2016

1.184
2016

-
2016

1.431
2016

-
2016

1.744
2016

1.539
2016

1.753
2016

1.300
2016

-
2016

-
2016

2.264
2016
12-01-2016

1.744
2015

-
2015

-
2015

-
2015

-
2015

-
2015

-
2015

1.595
2015

1.359
2015

1.433
2015

-
2015

-
2015

-
2015

-
2015

1.073
2015

-
2015

1.050
2015

-
2015

-
2015

2.264
2015
11-30-2015

-
2015
11-30-2015

1.073
2015
12-01-2015

1.699
2015
12-01-2015

1.530
2014

-
2014

-
2014

-
2014

-
2014

-
2014

1.248
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014
01-19-2013

-
2014
01-19-2013

-
2014
01-19-2014

-
2014
11-30-2014

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013

-
2013
01-19-2012

-
2013
12-30-2013

-
2013
12-30-2013

-
2012

-
2012

-
2012

-
2012

-
2012

-
2012
12-18-2011

-
2011

-
2011

-
2011
12-18-2011

-
2010

-
2010

-
2010
12-18-2009

-
2010
12-18-2009

-
2010
12-18-2009

-
2010
12-18-2009

-
2009

-
2009

-

Contacts

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Industry Classification

Retirement Benefits

Financials

20212020201920182017
BOY Assets: $ 203,161,812 $ 348,034,122 $ 207,304,978 $ 87,672,602 $ 75,661,556
Liabilities: $ 0 $ 395 $ 444 $ 27,387
EE Contrib: $ 46,373,549 $ 28,255,130 $ 38,235,613 $ 11,742,416 $ 26,392,704
Emp Contrib: $ 13,211,477 $ 76,476,414 $ 5,205,126 $ 8,346,257 $ 8,742,488
Income/Loss: $ 31,561,581 $ 65,147,865 $ 24,972,379($ 63,112,922) $ 6,654,825
Total Income: $ 92,931,477 $ 90,997,999 $ 68,456,116 $ 78,740,542 $ 61,937,024
Paid Benefits: $ 17,115,603 $ 68,988,418 $ 60,266,558 $ 11,927,178 $ 4,136,132
Expenses: $ 0 $ 9 $ 2
  Commission: $ 551,006 $ 209,990 $ 158,112 $ 651,199 $ 815,550
Net Income: $ 75,050,853 $ 57,917,593 $ 95,590,481 $ 86,157,111 $ 30,170,396
Net Assets: $ 278,212,665 $ 521,736,848 $ 875,730,722 $ 138,397,248 $ 19,297,712

Participants

20212020201920182017
Total Participants:62994631562565099601
Active Part.:54100357735860440846
Retired Part.:2930776311
Deceased Part.:51157

Insurance

IOFGC UPSD BHDL CDY QACQLWE
Renewal:12-31-2021
Covered:0
PENSION_EOY_SEP_ACCT_AMT: 0PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 0

Providers

ZQJEN-EPJJ OKJE & UHRUYPR SRQGTCIEF
8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Recordkeeping fees
Compensation:$410,190
Relation:RECORDKEEPER
AKTWBMG RMHXLC XUSER, LRZ
8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Investment management
Compensation:$70,868
Relation:INVESTMENT MGMT
LHV GAWPDVKULN SXF
120 VANTIS STE 400
ALISO VIEJO, CA 926562689
Investment advisory (plan)
Compensation:$69,948
Relation:INVESTMENT ADVISOR

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.

    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.

    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.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Health Benefits

Participants

2021
Total Participants:5595
Active Part.:5392
Retired Part.:33
Deceased Part.:

Insurance

CRXOOZ DBJPTRNOTC JDFJKW HXNQ NV PGR THKZHHZYX
Renewal:12-31-2021
Covered:80
  1. Health
  2. HMO Contract

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 551,082
Commission0% $ 0
Fees0% $ 0
TNNITK BEDMURUKBM ZSGMHE FBEK BNL.
Renewal:12-31-2021
Covered:363
  1. Health
  2. HMO Contract

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 2,189,610
Commission0% $ 0
Fees0% $ 0
DIOUWQ TJOUZWTFIJ CZIRRJ ZVXC PGV.
Renewal:12-31-2021
Covered:359
  1. Health
  2. HMO Contract

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 2,159,249
Commission0% $ 0
Fees0% $ 0
UIRUFRXXMDZW KXVD OZYPJLKQK UMJLHJJ
Renewal:12-31-2021
Covered:0
  1. Dental
  2. Life Insurance
  3. Temp. Disability Insurance
  4. Long Term Disab. Ins
  5. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 9,601
Commission0% $ 0
Fees0% $ 0
OLLMSZSH JEHVZMTP DSQY TBKOUSGZU
Renewal:12-31-2021
Covered:7056
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 399,831
Commission0% $ 0
Fees0% $ 0
OBAID XUJINX DGF IBJI GXLKDPPQG XCIKVNK AKN JOCUHCHZHF
Renewal:12-31-2021
Covered:4081
  1. Dental
  2. Indemnity Contract

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 2,882,614
Commission0% $ 0
Fees0.86% $ 24,822
Brokers
VEL MHMC HRXUJPVUY CFNCQDM LH MNPPNG
Renewal:12-31-2021
Covered:9466
  1. Life Insurance
  2. Temp. Disability Insurance
  3. Long Term Disab. Ins
  4. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 2,413,721
Commission0% $ 0
Fees1.62% $ 39,030
Brokers
JXFPDE FJEKZDOZDJ RYGSOB ITK FTZLN
Renewal:10-31-2021
Covered:5396
  1. EAP

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 58,897
Commission0% $ 0
Fees0% $ 0
PERGTSCNC OAFA HELJLDPPM CWGDOTV
Renewal:12-31-2021
Covered:1322
  1. HOSPITAL

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 118,142
Commission24% $ 28,354
Fees4% $ 4,726
Brokers
UDLZLVY AHDDAJGLH NDLLOPO
Renewal:11-30-2021
Covered:
  1. BUSINESS TRAVEL ACCIDENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 3,267
Commission25.01% $ 817
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.

    4Q - Other.