ALDEN SYSTEMS INC

22 INVERNESS CENTER PKWY STE 650
HOOVER, AL 35242

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 in-line with peers, in the 55th percentile.
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.

  • 10% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 7.3% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.523
(Current: 2.367)
2023

2.231
2023

2.241
2022

1.260
2022

1.365
2022

1.750
2022

1.362
2022

1.478
2022

2.037
2022

1.423
2022

1.645
2022

-
2022

1.645
2022

-
2022

1.235
2022

-
2022

1.766
2022

1.370
2022

1.742
2022

1.296
2022

1.082
2022

1.414
2022

1.638
2022

1.750
2022

1.349
2021

1.463
2021

1.750
2021

1.260
2021

1.858
2021

1.478
2021

2.040
2021

1.423
2021

1.645
2021

-
2021

1.763
2021

-
2021

1.235
2021

-
2021

1.370
2021

1.742
2021

1.296
2021

1.082
2021

1.414
2021

1.913
2021

1.681
2021

1.750
2021

1.246
2020

1.240
2020

-
2020

1.820
2020

-
2020

-
2020

1.750
2020

1.400
2020

1.346
2020

-
2020

1.100
2020

1.255
2020

1.850
2020

1.150
2020

1.050
2020
11-18-2020

1.645
2020
11-18-2020

1.328
2020
11-18-2020

-
2020
11-18-2020

-
2020
11-18-2020

-
2020
11-18-2020

1.180
2020
11-18-2020

1.237
2020
11-18-2020

1.207
2019

-
2019

-
2019

1.400
2019

1.224
2019

1.255
2019

1.150
2019
07-13-2019

1.240
2019
07-13-2019

1.180
2019
11-18-2019

-
2019
11-18-2019

-
2019
11-18-2019

1.237
2019
11-18-2019

1.207
2018

-
2018

1.600
2018
11-18-2018

1.699
2017

-
2017

1.699
2017

1.447
2016

-
2016

1.158
2016
11-18-2016

1.851
2015

-
2015

1.707
2014

-
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

Ehqrbx Hxxoio Vywaek
Project Manager - Professional S
(142) 083-7700
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IDCZX ZNIBKOY
Benefits Admin
(954) 825-1359
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TTISFOT YVXEQL
Benefits Admin
(259) 277-0663
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Sttzoshd Jjpdd
(267) 059-8512
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LAEMV UQUDBLP
Benefits Admin
(892) 658-2133
pkxek.ekjqhcw@gzptlago.ouu

Mcle Akldcvaca
President & CEO
(940) 022-2769
vfiv.ofmndckyw@vambtjbn.ftl

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(019) 052-4743
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Ujynix Prjbpw Bacimm
Project Manager - Professional Services
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(594) 719-0493
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HCAV GRP
Benefits Admin
(201) 704-1711
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QGSWN OTDLJIPQS
Benefits Admin
(015) 706-3169
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,300,781 $ 2,804,461 $ 6,449,749 $ 4,130,468 $ 6,549,717 $ 7,825,385 $ 3,461,815 $ 1,371,163 $ 4,990,966 $ 9,434,774 $ 2,756,165 $ 4,245,334
Liabilities: $ 0 $ 4 $ 8 $ 37 $ 88 $ 3 $ 9 $ 3 $ 9 $ 9
EE Contrib: $ 180,483 $ 230,155 $ 576,481 $ 714,225 $ 2,949 $ 446,136 $ 503,314 $ 98,791 $ 239,969 $ 6,088 $ 990,433 $ 80,465
Emp Contrib: $ 0 $ 657,690 $ 179,730 $ 420,742 $ 876,213 $ 77,793 $ 49,760 $ 87,204 $ 1,577 $ 64,170
Income/Loss: $ 682,934 $ 97,316 $ 898,830($ 782,307) $ 588,563 $ 703,777($ 4,384) $ 543,302 $ 651,427 $ 527,910($ 91,309) $ 456,228
Total Income: $ 863,417 $ 21,404 $ 65,985 $ 32,150 $ 820,779 $ 316,116 $ 843,076 $ 447,633 $ 761,456 $ 823,925 $ 17,848 $ 23,199
Paid Benefits: $ 46,446 $ 887,733 $ 7 $ 83,396 $ 519,485 $ 176,649 $ 967,489 $ 51,420 $ 684,447 $ 54,720 $ 42,889 $ 222,626
Expenses: $ 0 $ 8 $ 8 $ 2 $ 6 $ 77
  Commission: $ 52,875 $ 3,906 $ 1,051 $ 32,405 $ 48,451 $ 9,304 $ 29,643 $ 7,047 $ 4,052 $ 8,542 $ 7,884 $ 65,845
Net Income: $ 764,096 $ 546,994 $ 739,760($ 911,752) $ 60,341 $ 89,575 $ 103,060 $ 474,305 $ 367,373 $ 15,546 $ 72,954 $ 69,510
Net Assets: $ 5,064,877 $ 3,620,573 $ 94,679 $ 8,061,011 $ 5,018,915 $ 8,662,968 $ 1,635,269 $ 6,798,422 $ 6,949,852 $ 319,966 $ 982,264 $ 4,273,295

Participants

202120202019201820172016201520142013201220112010
Total Participants:6171110688404076405918497
Active Part.:6067691931055815f2cf08819
Retired Part.:4d 644f69d18a6d6ad6a233433
Deceased Part.:601a 716b0462b03ccbc

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.

    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.

    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.

Health Benefits

Financials

202120202019
BOY Assets: $ 0
Liabilities: $ 0 $ 918
EE Contrib: $ 0 $ 7 $ 1
Emp Contrib: $ 0 $ 6
Income/Loss: $ 0
Total Income: $ 0 $ 0 $ 6
Paid Benefits: $ 0 $ 5 $ 4
Expenses: $ 0 $ 98 $ 7
  Commission: $ 0 $ 21 $ 71
Net Income: $ 0 $ 9
Net Assets: $ 0 $ 66

Participants

202120202019
Total Participants:186616270
Active Part.:186435950
Retired Part.:f0e3
Deceased Part.:3ab64

Insurance

No Insurance Coverage

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4D - Dental.

    4E - Vision.