TOOL STEEL SERVICES INC

7333 S 76TH AVE
BRIDGEVIEW, IL 60455

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 93% of peers.
  • In the last year, premium Increased by more than 75% of peers.
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.

  • 14% of peers have changed carriers since last year. Those who did, saw a 18.5% decrease in premium vs those who stayed with their current provider had a 2.4% decrease, roughly 8x those who stayed with their current provider.
  • Current Carrier's market share is in the 1st percentile at 1.8% of the market.
Average

Business Stats

Policy History

Term Carrier Premium LCM
2022

-
2022

1.950
2021

-
2021

1.950
2020

-
2020

1.950
2019

-
2019

1.850
2018

-
2018

1.308
2017

-
2017

1.787
2016

-
2015

-
2014

-

Contacts

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Admin
(847) 386-5392
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President
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Admin
(779) 679-2332
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Svleybo Rcoaji
President
(552) 177-0637
34027

Industry Classification

Retirement Benefits

Financials

202020192018201720162015
BOY Assets: $ 1,008,594 $ 830,743 $ 455,118 $ 648,693 $ 366,962 $ 272,262
Liabilities: $ 0 $ 6 $ 69 $ 61 $ 68 $ 2
EE Contrib: $ 43,025 $ 62,788 $ 18,626 $ 75,092 $ 91,726 $ 25,930
Emp Contrib: $ 0 $ 83 $ 9 $ 4 $ 44 $ 8
Income/Loss: $ 145,993 $ 657,238($ 48,284) $ 320,290 $ 78,593($ 5,200)
Total Income: $ 189,018 $ 659,585($ 271) $ 92,794 $ 42,254 $ 91,991
Paid Benefits: $ 34,044 $ 9,380 $ 54,582 $ 549 $ 6,993 $ 23,912
Expenses: $ 0 $ 9 $ 9 $ 9 $ 656
  Commission: $ 7,019 $ 2,134 $ 2,790 $ 1,749 $ 8,025 $ 9,100
Net Income: $ 147,955 $ 296,961($ 46,800) $ 58,714 $ 40,007 $ 21,623
Net Assets: $ 1,156,549 $ 7,915,935 $ 534,136 $ 799,568 $ 954,611 $ 608,012

Participants

202020192018201720162015
Total Participants:345786795487
Active Part.:308525010536
Retired Part.:0 f5fbc0
Deceased Part.:3 61ea1b3

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.

    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.