ADMIRAL SIGNWORKS CORP

1531 EARLY ST
NORFOLK, VA 23502

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 61% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Decreased by 1%. While peers Increased an average of 5%.
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.

  • 9% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 14.7% of the market.
Good

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier LCM
2023

1.550
2022

1.560
2022

1.512
2021

1.560
2020

1.420
2019

1.420
2018

1.420
2017

1.420
2016

1.420
2015

-

Contacts

Ouks Uv Ofsgiw
President
(866) 337-5578
jlbdafgi@knssgeaqjomhuour.thm

Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 20,500 $ 16,417
Liabilities: $ 0
EE Contrib: $ 0 $ 6
Emp Contrib: $ 0 $ 4
Income/Loss: $ 1,722 $ 7,524
Total Income: $ 1,722 $ 6,214
Paid Benefits: $ 22,210 $ 16,187
Expenses: $ 0
  Commission: $ 12 $ 46
Net Income:($ 20,500)($ 41,144)
Net Assets: $ 0 $ 68,732

Participants

20212020
Total Participants:6
Active Part.:8
Retired Part.:697
Deceased Part.:df4

Insurance

JVKHV MDYW ESVM & FOQAILE GVSYTELFR LOARWBA
Renewal:12-31-2021
Covered:288
PENSION_EOY_SEP_ACCT_AMT: 0PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 0

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.

    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)).


OSHA