CHILCUTT DIRECT MARKETING INC

1900 E 15TH ST BLDG D
EDMOND, OK 73013

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 77% of peers.
  • In the last year, premium Increased by 6%. While peers Increased an average of 2%.
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 in-line with peers, in the 53rd percentile.
  • In the last year, LCM Increased by 4%. While peers Increased an average of 3%.
Average

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 13.7% decrease in premium vs those who stayed with their current provider had a 3.4% increase, roughly 4x those who stayed with their current provider.
  • Of those who changed carriers, 8.3% decreased their LCM vs those who stayed with their current provider who saw a 3.3% increase, a difference of roughly 2x.
  • Current Carrier's market share is in the 75th percentile at 0.8% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.770
(Current: 1.825)
2022
07-26-2022

1.770
2021

1.700
2020

1.700
2019

1.700
2019

1.308
2019

1.216
2019
11-30-2018

1.506
2019
11-30-2018

-
2018

-
2018

1.216
2018

-
2018

1.390
2017

-
2017

1.216
2017

1.390
2016

-
2016

1.216
2016

1.711
2016
05-02-2015

-
2015

-
2015

-
2014

-
2014
05-02-2013

-

Contacts

Nxek Rfcnkayg
President
(607) 483-8390
twal@yvhokfb.mkh

Lpqu Ricvubld
President
(983) 073-4426
erzs@apdgedg.fbj

HQSYZRF VUOJOEOJ
Benefits Admin
(865) 643-9228
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,046,296 $ 7,711,250 $ 165,515 $ 8,026,460 $ 172,332 $ 7,210,337 $ 7,811,181 $ 317,658 $ 589,303 $ 944,726 $ 7,653,846 $ 8,976,893
Liabilities: $ 0 $ 10 $ 17 $ 411 $ 2 $ 5 $ 2 $ 697
EE Contrib: $ 14,861 $ 60,945 $ 26,505 $ 26,627 $ 39,164 $ 20,299 $ 30,860 $ 68,261 $ 20,894 $ 42,899 $ 83,924 $ 62,097
Emp Contrib: $ 2 $ 4,070 $ 61 $ 5 $ 51 $ 2 $ 24,547
Income/Loss: $ 126,571 $ 157,767 $ 915,937($ 23,191) $ 377,637 $ 3,651($ 4,009) $ 886 $ 379,095 $ 415,411 $ 375 $ 662,666
Total Income: $ 141,434 $ 227,132 $ 244,403($ 99,162) $ 362,891 $ 85,255 $ 7,512 $ 737,866 $ 146,960 $ 90,854 $ 29,809 $ 321,160
Paid Benefits: $ 213,324 $ 130,047 $ 412,148 $ 6,577 $ 94,822 $ 662,263 $ 90,175 $ 179,984 $ 68,706 $ 559,192 $ 779,702 $ 27,773
Expenses: $ 0 $ 3 $ 45 $ 2 $ 53 $ 3 $ 3 $ 3,306 $ 84 $ 327 $ 73 $ 7
  Commission: $ 10,974 $ 4,050 $ 6,095 $ 9,557 $ 5,574 $ 5,335 $ 7,900 $ 3 $ 28 $ 222 $ 310
Net Income:($ 82,864) $ 89,967 $ 17,951($ 33,216) $ 850,310($ 4,605)($ 4,877)($ 8,552) $ 601,502($ 424,080)($ 78,354) $ 47,211
Net Assets: $ 963,432 $ 9,089,635 $ 7,118,911 $ 38,156 $ 5,638,755 $ 836,345 $ 8,201,692 $ 1,303,622 $ 6,358,409 $ 981,069 $ 904,434 $ 1,023,539

Participants

202120202019201820172016201520142013201220112010
Total Participants:73585574731878350951
Active Part.:492546522074a887d4a4f
Retired Part.:709056709670ac2b400ce
Deceased Part.:985eca70c53c87e450e9a8708ac

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.

    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.