EDWARDS CAPITAL LLC DBA FLEXPOINT FO

676 N MICHIGAN AVE
CHICAGO, IL 60611

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Needs Attention

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 100% of peers.
  • In the last year, premium Increased by 114%. While peers Increased an average of 2%.
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 Very Good, in the 7th percentile compared to peers.
  • In the last year, LCM Increased by 0%. While peers Increased an average of 5%.
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. Those who did, saw a 6.4% decrease in premium vs those who stayed with their current provider had a 2.7% increase, roughly 2x those who stayed with their current provider.
  • Of those who changed carriers, 1.5% increased their LCM vs those who stayed with their current provider who saw a 4.9% increase.
  • Current Carrier's market share is in the 95th percentile at 9.6% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.072
(Current: 1.070)
2022

0.087
2021

1.070
2021

1.239
2020

-
2020

1.239
2019

-
2018

-
2018
12-06-2017

-
2017

-
2017
04-01-2016

-
2017
04-01-2016

-
2016

-
2016

-
2015

-
2014

-

Contacts

1
(428) 205-4920
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EPNSPV TMILCH
Benefits Admin
(538) 114-9484
627

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Benefits Admin
(650) 654-7650
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YWOVL AICQKFIRRO
Benefits Admin
(208) 057-0113
80ed

Mczherd Mebnbhy
Domain Registrant
(406) 249-7440
hrudybpn@htrfezaklripsgtvk.srm

Sdab Ooydifq
President
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hksqsmrw@jkljszy.edc

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 6,474,263 $ 8,437,601 $ 2,385,464 $ 5,487,643 $ 8,853,375 $ 9,116,419 $ 347,009 $ 7,610,569 $ 584,251 $ 463,043 $ 379,291 $ 477,858
Liabilities: $ 0 $ 51 $ 0 $ 6 $ 6 $ 76 $ 9 $ 95
EE Contrib: $ 970,958 $ 262,400 $ 278,872 $ 848,199 $ 375,445 $ 227,035 $ 597,904 $ 706,562 $ 264,712 $ 170,382 $ 119,948 $ 100,171
Emp Contrib: $ 0 $ 0 $ 6 $ 9 $ 5 $ 0 $ 22
Income/Loss: $ 1,049,082 $ 826,050 $ 641,409($ 178,184) $ 365,125 $ 775,688($ 3,774) $ 458,560 $ 779,936 $ 753,421($ 8,251) $ 16,717
Total Income: $ 2,020,040 $ 7,335,893 $ 816,341 $ 100,732 $ 2,601,745 $ 428,589 $ 94,228 $ 728,197 $ 195,396 $ 761,615 $ 484,719 $ 530,201
Paid Benefits: $ 449,308 $ 292,873 $ 139,077 $ 617,609 $ 989,080 $ 914,570 $ 807,734 $ 7,854 $ 64,603 $ 79,703 $ 97 $ 47,108
Expenses: $ 0 $ 6 $ 7 $ 4 $ 47 $ 47 $ 7 $ 74
  Commission: $ 8,957 $ 7,388 $ 8,972 $ 1,965 $ 6,195 $ 6 $ 93 $ 31 $ 346 $ 22 $ 556 $ 810
Net Income: $ 1,561,775 $ 8,366,305 $ 3,773,728($ 93,620) $ 532,336 $ 30,311 $ 597 $ 421,082 $ 216,645 $ 165,091 $ 462,867 $ 366,216
Net Assets: $ 8,036,038 $ 699,524 $ 7,611,543 $ 9,653,568 $ 8,949,209 $ 6,155,247 $ 7,661,841 $ 6,987,449 $ 1,637,125 $ 4,625,069 $ 935,816 $ 204,741

Participants

202120202019201820172016201520142013201220112010
Total Participants:773159677309838209439079
Active Part.:5591503462442141d75d4af4ac
Retired Part.:7fa 47fdf7d6f9971f75a
Deceased Part.:a0a1718bc0006167a1f06aa1

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.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

    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.