IOP Publishing Inc

190 N Independence Mall W Ste 601
Philadelphia, PA 19106

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
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 36th percentile.
  • In the last year, LCM Decreased by 31%. While peers Increased an average of 4%.
Good

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, 6% decreased their LCM vs those who stayed with their current provider who saw a 5% increase.
  • Current Carrier's market share is in the 99th percentile at 16.5% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.698
2023

-
2023

1.522
2023

1.390
2023

1.420
2022

1.853
2022

-
2022

1.522
2022

1.390
2021

1.544
2021

1.693
2021
06-17-2020

3.160
2021
06-17-2020

3.160
2021
06-17-2020

-
2021
06-17-2020

-
2021
06-17-2020

2.036
2021
06-17-2020

2.036
2021
06-17-2020

2.280
2021
06-17-2020

2.280
2020

-
2020

2.036
2020

2.471
2020
06-17-2020

-
2019

-
2019

-
2019

1.766
2019

1.853
2018

-
2018

-
2018

1.666
2018

1.909
2017

1.650
2017

1.909
2017
06-17-2016

-
2017
06-17-2016

2.178
2016

-
2016

2.178
2015

-
2015

2.008
2015
06-17-2014

2.008
2014

-
2014

-
2013

-
2012

-
2011

-
2010

-
2009

-

Contacts

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(631) 199-1548
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(238) 320-8727
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Wzytlw Bpit
Chief Executive Officer
(969) 337-4200
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ZTFODYM W. SQKY
Benefits Admin
(498) 435-6299
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XYVCMW DMIYLLCVC
Benefits Admin
(435) 024-2426
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VBMLEF DFPGHLDKQ
Finance and Operations Director
(479) 880-2914
lewmwr.rsbrxcfxs@qdozf.che

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 4,879,701 $ 3,849,830 $ 3,810,250 $ 9,692,958 $ 1,270,734 $ 8,359,472 $ 5,661,189 $ 6,997,472 $ 2,475,171 $ 2,795,357 $ 1,534,156 $ 7,693,628
Liabilities: $ 4,404 $ 3,888 $ 7,792 $ 8,606 $ 59 $ 8 $ 0 $ 3,551
EE Contrib: $ 438,413 $ 77,552 $ 644,472 $ 625,327 $ 311,473 $ 805,688 $ 809,004 $ 347,869 $ 319,644 $ 40,492 $ 820,425 $ 765,980
Emp Contrib: $ 150,395 $ 893,680 $ 13,137 $ 751,755 $ 541,577 $ 269,361 $ 625,856 $ 306,406 $ 595,716 $ 740,120 $ 33,895 $ 699,815
Income/Loss: $ 671,732 $ 770,377 $ 32,324($ 308,689) $ 280,141 $ 627,417($ 69,836) $ 857,136 $ 458,950 $ 606,645($ 53,717) $ 593,771
Total Income: $ 1,260,540 $ 789,922 $ 323,849 $ 935,523 $ 447,193 $ 723,558 $ 105,462 $ 224,097 $ 206,903 $ 338,230 $ 349,316 $ 961,951
Paid Benefits: $ 688,022 $ 737,130 $ 3,843,010 $ 73,577 $ 72,669 $ 156,391 $ 56,132 $ 803,343 $ 517,810 $ 13,736 $ 121,942 $ 2,089
Expenses: $ 16,321 $ 90,091 $ 72,784 $ 9,952 $ 4 $ 428 $ 2 $ 6
  Commission: $ 0 $ 149 $ 379 $ 24 $ 4 $ 1 $ 96 $ 53 $ 9
Net Income: $ 556,197 $ 718,962($ 853,836) $ 26,402 $ 876,183 $ 884,271 $ 426,458 $ 644,579 $ 752,296 $ 615,974($ 393) $ 551,227
Net Assets: $ 5,431,662 $ 3,421,332 $ 129,587 $ 1,212,503 $ 1,678,618 $ 4,255,384 $ 3,154,621 $ 1,028,510 $ 5,283,931 $ 5,789,990 $ 6,249,543 $ 9,412,357

Participants

202120202019201820172016201520142013201220112010
Total Participants:524569543034087495834854
Active Part.:31176677446790860afffe
Retired Part.:39e8a39e70e54a1eaaa
Deceased Part.:1b73bb5cbf52b99943c7b

Insurance

No Insurance Coverage

Providers

No Providers

Features

    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.

    2E - Profit-sharing

    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.

    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.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.