LOGO LOC INC

60A PULPIT ROCK RD
PELHAM, NH 03076

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

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 68% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Decreased by 3%. While peers Increased an average of 1%.
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.

  • 8% of peers have changed carriers since last year.
  • Of those who changed carriers, 25.7% decreased their LCM vs those who stayed with their current provider who saw a 0.5% increase, a difference of roughly 54x.
  • Current Carrier's market share is in the 95th percentile at 11.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier LCM
2023

1.521
2022

1.562
2021
PEO
1.400
2021

-
2021
PEO
1.400

Contacts

fb
(780) 802-9596
0a83

Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 509,620 $ 602,183
Liabilities: $ 0 $ 14
EE Contrib: $ 80,228 $ 79,893
Emp Contrib: $ 0 $ 8
Income/Loss: $ 73,159 $ 72,564
Total Income: $ 153,387 $ 30,871
Paid Benefits: $ 42,106 $ 388,382
Expenses: $ 0 $ 1
  Commission: $ 1,956 $ 761
Net Income: $ 109,325($ 712,316)
Net Assets: $ 618,945 $ 380,357

Participants

20212020
Total Participants:3089
Active Part.:1972
Retired Part.:242
Deceased Part.:e

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.

    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.