Insurance Xdate > Reports > TX > Cookie Society Southlake Llc


Commercial Insurance Overview

Cookie Society Southlake Llc is based in county in Texas. They operate in the Manufacturing industry, specifically in Bread Cake and Related Products, which is a low risk industry. It is worth putting effort into risk management to be able to leave the Assigned Risk pool.

It looks like they just changed commercial insurance carriers. We have coverage data for them in a single state.

The LCM is the rate that is applied to a carrier, representing the risk covered by that carrier. The current carrier's LCM is 1.300. A 1.300 LCM overall is a bit high, but check the market comparison below for more details. The (LCM) that they are with increased by 55% which is a significant shift. It is worth investigating why.

We know the Standard Premium for this company. You can see how it compares to similar businesses in the Market Comparison. The premium paid has decreased by -31%, does this mean payroll is decreasing or are they managing their risk better?

Premium Comparison

This chart represents the range and distribution that carriers are charging per $100 of payroll for businesses similar to Cookie Society Southlake Llc. This can give you an idea of what carriers might best fit your business.

$3.85$0.75
Erie Ins Grp
$1.50
$1.04$2.30
Berkshire Hathaway Grp
$2.20
$1.20$2.08
Hartford Fire & Cas Grp
$1.91
$0.83$3.56
Travelers Grp
$1.32
$0.85$3.85
Amtrust Ngh Grp
$1.85
$1.00$2.30
State Farm Grp
$2.09
$1.14$2.10
Selective Ins Grp
$3.03
$1.10$3.43
Markel Corp Grp
$2.06
$1.40$2.39
Proassurance Corp Grp
$1.65
$1.00$1.73
Liberty Mut Grp
$1.56
$0.75$3.20

Market Comparison for Cookie Society Southlake Llc

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 in-line with peers, in the 45th percentile.
  • In the last year, premium Decreased by 31%. While peers Increased an average of 2%.
Average

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 32nd percentile compared to peers.
  • In the last year, LCM Increased by 55%. While peers Increased an average of 2%.
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.

  • 7% of peers have changed carriers since last year. Those who did, saw a 8.6% decrease in premium vs those who stayed with their current provider had a 2.6% increase, roughly 3x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 11% of the market.
Needs Attention

Business Owners

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Policy Renewal Date
Current Carrier
Class Code
SIC Code
NAICS Code
Premium
LCM
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Carrier Tenure
Revenue
Contact Email
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Website
Loss Cost
Coverage History


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  • Market Share Analysis