M CON INC

8550 W CHARLESTON BLVD
LAS VEGAS, NV 89117

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 98% of peers.
  • In the last year, premium Increased by 45%. While peers Increased an average of 10%.
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 89% 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.

  • 20% of peers have changed carriers since last year. Those who did, saw a 27.9% decrease in premium vs those who stayed with their current provider had a 5.6% decrease, roughly 5x those who stayed with their current provider.
  • Current Carrier's market share is in the 1st percentile at 2% of the market.
Needs Attention

Similar Businesses

Business Stats

Policy History

Term Carrier Premium LCM
2024

1.840
2023

1.840
2023

1.651
2023

1.651
2022

1.651
2022

1.651
2021

1.651
2021

1.651
2020

1.651
2020

1.337
2020
06-11-2019

1.337
2019

1.337
2013
05-07-2013

1.350
2012

1.350

Contacts

Eivx Iohfnnbthm
Superintendent
(185) 617-0051
jlsv@lrccyaw.vzm

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Benefits Admin
(835) 355-6116
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Industry Classification

Retirement Benefits

Financials

2021
BOY Assets: $ 0
Liabilities: $ 0
EE Contrib: $ 55,695
Emp Contrib: $ 23,057
Income/Loss: $ 748
Total Income: $ 79,500
Paid Benefits: $ 0
Expenses: $ 0
  Commission: $ 0
Net Income: $ 79,500
Net Assets: $ 79,500

Participants

2021
Total Participants:137
Active Part.:136
Retired Part.:
Deceased Part.:

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    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.

    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.


OSHA