THE SEWING & VACUUM CENTER INC

1575 CAMPBELL LN
BOWLING GREEN, KY 42104

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 69% 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.

  • 6% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 9.3% of the market.
Good

Business Stats

Policy History

Term Carrier LCM
2023

1.810
2022

1.579
2022

1.810
2021

1.579
2021

1.810
2020

-
2020

1.876
2019

1.505
2018

1.505
2017

1.320
2016

1.320
2016

1.650
2015

-

Contacts

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President
(851) 598-6762
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Czngzwyy Vkrulp
Partner
(535) 694-6710
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Manager
(886) 567-9548
menhmtsmhgofqoc@cbxjcdk.vok

Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 620,237 $ 9,764,235
Liabilities: $ 0 $ 2
EE Contrib: $ 47,350 $ 29,457
Emp Contrib: $ 16,274 $ 71,497
Income/Loss: $ 118,964 $ 37,661
Total Income: $ 182,588 $ 854,140
Paid Benefits: $ 219,385 $ 3,215,589
Expenses: $ 0 $ 431
  Commission: $ 2,574 $ 4,596
Net Income:($ 39,371)($ 64,189)
Net Assets: $ 580,866 $ 538,623

Participants

20212020
Total Participants:1099
Active Part.:74
Retired Part.:9b
Deceased Part.:4

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.