Kymco USA Inc

5 Stan Perkins Rd
Spartanburg, SC 29307

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 65% 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.

  • 10% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 75th percentile at 2.1% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

-
2023

1.700
2022

1.700
2022
04-01-2022

-
2021

1.790
2021

1.875
2021

1.120
2021

-
2021

1.300
2021

1.565
2021

1.310
2021

1.400
2021
08-02-2020

1.650
2021
04-01-2021

1.380
2021
04-04-2021

-
2020

-
2020

1.630
2020

-
2020

1.650
2020

1.120
2020

1.380
2020

1.565
2020

-
2020

-
2020

1.400
2020

1.400
2020
05-22-2019

1.380
2020
05-22-2019

1.565
2020
05-22-2020

-
2019

1.630
2019

-
2019

-
2019

1.650
2019

1.120
2019

-
2019

1.380
2019

1.300
2019

1.565
2019

-
2019

1.350
2019

1.300
2018

-
2018

-
2018

1.120
2018

1.380
2018

1.565
2018

-
2018

1.350
2018

2.070
2017
PEO
-
2017
PEO
-
2017

1.227
2017
PEO
-
2017
PEO
1.433
2017
05-22-2017

1.444
2016
PEO
-
2016

-
2016

-
2016
PEO
-
2016

-
2016

-
2016

-
2016

-
2016
PEO
1.398
2015

-
2015

-
2015

-
2015

-
2015

-
2015

1.270
2015

-
2015

-
2014

-
2014

-
2014

1.621
2014

-
2013

-
2013

-
2013

-
2013
08-30-2013

-
2012

-
2012

-
2012
09-09-2012

-
2011

-
2010
06-24-2011

-

Contacts

12
(552) 473-1319
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6
(706) 928-7538
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Benefits Admin
(907) 913-8008
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Benefits Admin
(693) 786-0444
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RDFUG NKYG
Benefits Admin
(531) 657-5045
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Cgde Edjrt
President
(289) 665-8323
umuwfbtoy@yeznhpbe.kun

Poygb Yngm
CEO
(006) 779-2274
cxypp@iwmsjsia.sat

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 665,813 $ 880,255 $ 652,687 $ 5,222,441 $ 5,760,014 $ 2,128,302 $ 7,084,715 $ 107,651 $ 820,121 $ 307,573 $ 163,663 $ 395,244
Liabilities: $ 0 $ 7 $ 50 $ 8 $ 4 $ 7 $ 80 $ 2
EE Contrib: $ 30,959 $ 38,613 $ 39,847 $ 69,955 $ 35,428 $ 63,781 $ 53,703 $ 283,398 $ 720,593 $ 77,627 $ 27,892 $ 976,801
Emp Contrib: $ 13,122 $ 93,788 $ 1,097 $ 46,231 $ 24,986 $ 70,001 $ 37,000 $ 47,688 $ 41,055 $ 19,636 $ 62,941 $ 9
Income/Loss: $ 78,561 $ 55,770 $ 987,009($ 1,486) $ 518,898 $ 75,781($ 68,838) $ 67,056 $ 46,359 $ 78,291($ 97,268) $ 64,923
Total Income: $ 122,642 $ 678,951 $ 240,189 $ 91,221 $ 395,539 $ 898,911 $ 812,422 $ 474,408 $ 631,899 $ 557,872 $ 496,302 $ 706,072
Paid Benefits: $ 165,637 $ 622,207 $ 475,487 $ 592,451 $ 364,794 $ 1,479 $ 2,186 $ 870 $ 240,591 $ 886,549 $ 87,873 $ 39,936
Expenses: $ 0 $ 9 $ 9 $ 955 $ 977 $ 614 $ 193 $ 750 $ 753 $ 29 $ 791
  Commission: $ 280 $ 8,327 $ 339 $ 411 $ 3 $ 52 $ 642
Net Income:($ 43,275)($ 70,616)($ 21,526)($ 545,915)($ 457,370) $ 344,965 $ 46,166 $ 10,717 $ 99,622 $ 7,738 $ 32,626 $ 283,338
Net Assets: $ 622,538 $ 316,263 $ 246,085 $ 301,552 $ 1,881,247 $ 1,680,393 $ 6,678,215 $ 3,227,262 $ 573,980 $ 984,338 $ 638,080 $ 29,658

Participants

202120202019201820172016201520142013201220112010
Total Participants:144583018028976001059946
Active Part.:7301263043867393257670
Retired Part.:a51f 80a50a02152a daa0
Deceased Part.:44dd98cddd8 4d9df633d

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.

    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.

    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.

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

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

Motor Carrier