COMMONBOND INC

524 BROADWAY FL 6
NEW YORK, NY 10012

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 71% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
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.

  • 23% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 9.3% of the market.
Average

Business Stats

Policy History

Term Carrier Premium LCM
2023
PEO
-
2023
PEO
1.719
2023
PEO
1.404
2023

1.113
2023
PEO
1.446
2022
PEO
-
2022
PEO
1.726
2022

1.113
2022
PEO
1.378
2022

1.113
2022
PEO
1.470
2021
PEO
-
2021

1.650
2021

1.605
2021

1.150
2021
12-02-2020

1.248
2020

-
2020

1.150
2019
PEO
-
2019

1.035
2018
PEO
-
2018

1.035
2017

1.227
2017
07-01-2017
PEO
-
2016

1.227

Contacts

Fiawd Hmgfo
Chief Executive Officer
(831) 450-9407
zkosjnuhqmr@nlgoorzrdtkr.cix

RNVRW AEVC
Benefits Admin
(610) 912-2695
e66d

Tnjyp Owffn
Chief Executive Officer
(115) 351-9108
5be

Industry Classification

Retirement Benefits

Financials

202120202019
BOY Assets: $ 1,775,447 $ 9,671,872 $ 6
Liabilities: $ 0 $ 20
EE Contrib: $ 523,786 $ 946,822 $ 408,935
Emp Contrib: $ 0 $ 45 $ 32
Income/Loss: $ 365,450 $ 503,085 $ 316,559
Total Income: $ 889,236 $ 98,771 $ 67,629
Paid Benefits: $ 448,604 $ 812,720 $ 158,529
Expenses: $ 0 $ 3
  Commission: $ 13,237 $ 77,699 $ 12,481
Net Income: $ 427,395 $ 67,644 $ 577,910
Net Assets: $ 2,202,842 $ 9,805,369 $ 3,222,495

Participants

202120202019
Total Participants:10950455
Active Part.:529414
Retired Part.:85005
Deceased Part.:8a295

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    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.