Hyperion Bank

199 W Girard Ave
Philadelphia, PA 19122

Talking Points

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 56% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 25%. 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, 2.8% decreased their LCM vs those who stayed with their current provider who saw a 1.7% increase.
  • Current Carrier's market share is in the 95th percentile at 9.7% of the market.
Good

Business Stats

Policy History

Term Exp. Mod Carrier Premium LCM
2022

1.728
(Current: 1.676)
2022

1.881
2021

1.589
2021

1.505
2020

1.589
2020

1.359
2019

1.359
2018

1.190
2017

1.190
2017

1.190
2016

1.190
2016

1.190
2015

1.190
2014

-
2014

-
2013

-
2013

-
2013
11-22-2012

-
2012

-
2011

-
2010

-
2009

-

Contacts

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Benefits Admin
(629) 255-9371
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President
(308) 519-1952
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President & COO
(259) 673-9587
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 516,532 $ 329,580 $ 190,153 $ 484,830 $ 228,702 $ 957,880 $ 251,469 $ 606,963 $ 893,262 $ 797,193 $ 688,475 $ 940,554
Liabilities: $ 0 $ 2 $ 2 $ 0 $ 2 $ 3 $ 20 $ 71 $ 40,000,000 $ 5
EE Contrib: $ 231,664 $ 9,063 $ 68,449 $ 27,816 $ 55,855 $ 80,406 $ 9,286 $ 9,561 $ 50,923 $ 62,488 $ 73,414 $ 46,657
Emp Contrib: $ 104,232 $ 2 $ 1 $ 4 $ 33 $ 12 $ 3 $ 60
Income/Loss:($ 4,926) $ 662,734 $ 70,422($ 4,558) $ 84,559 $ 41,820($ 6,839) $ 19,626 $ 54,400 $ 16,988($ 8,683) $ 19,531
Total Income: $ 330,970 $ 715,565 $ 895,725 $ 44,039 $ 60,172 $ 75,812 $ 77,810 $ 96,859 $ 406,792 $ 701,735 $ 38,328 $ 187,291
Paid Benefits: $ 1,041 $ 4 $ 13,674 $ 7,145 $ 29,088 $ 24,833 $ 8,023 $ 501,573 $ 847,532 $ 52,173 $ 60,092
Expenses: $ 0 $ 57 $ 8 $ 9,831 $ 9 $ 35 $ 5 $ 7
  Commission: $ 6,459 $ 5,813 $ 1 $ 821 $ 1 $ 9 $ 1,440 $ 175 $ 3,247 $ 64
Net Income: $ 323,470 $ 60,650 $ 345,926 $ 58 $ 3,587 $ 4,907 $ 51,638($ 307,933)($ 878,780) $ 97,979 $ 60,735 $ 334,167
Net Assets: $ 840,002 $ 995,982 $ 743,124 $ 162,231 $ 741,137 $ 790,445 $ 890,188 $ 588,800 $ 925,443 $ 180,416 $ 417,750 $ 533,753

Participants

202120202019201820172016201520142013201220112010
Total Participants:440339917676118961875324
Active Part.:9178896010817111949852
Retired Part.:67b925795365d2f85297b2
Deceased Part.:0a914e038b2a94c1

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.

    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.