LANXESS CORPORATION

111 RIDC PARK WEST DRIVE
PITTSBURGH, PA 15275

Talking Points

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is in-line with peers, in the 57th percentile.
  • Mod decreased by more than 75% of peers.
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 in-line with peers, in the 48th percentile.
  • In the last year, LCM Increased by 13%. While peers Increased an average of 4%.
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.
  • Of those who changed carriers, 0.5% decreased their LCM vs those who stayed with their current provider who saw a 4.7% increase.
  • Current Carrier's market share is in the 75th percentile at 2.8% 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 Exp. Mod Carrier Premium LCM
2022

1.402
(Current: 1.460)
2022

1.408
2022

1.155
2022

1.014
2022

-
2022

1.031
2022

1.404
2022

-
2022

1.114
2022

1.301
2022

1.020
2022

1.095
2022

0.980
2022

1.814
2022

1.080
2022

1.037
2022

1.209
2021

1.310
2021

1.379
2021

1.155
2021

1.014
2021

1.078
2021

1.031
2021

1.404
2021

-
2021

-
2021

1.195
2021

0.970
2021

1.095
2021

1.611
2021

1.080
2021

1.037
2021

1.019
2020

-
2020

1.379
2020

1.155
2020

1.014
2020

-
2020

-
2020

1.031
2020

-
2020

-
2020

1.195
2020

0.990
2020

1.095
2020

1.404
2020

1.080
2020

1.019
2019

-
2019

-
2019

-
2019

1.271
2019

0.990
2019

1.095
2019

1.404
2019

-
2018

1.043
2017

-
2017

1.805
2017

-
2017

-
2017

-
2017

1.227
2017

1.433
2017

1.615
2017

-
2017

-
2016

-
2016

-
2016

-
2016

-
2016

1.227
2016

1.398
2016

-
2015

-
2015

-
2015

-
2015

-
2015
06-01-2015

-
2015
06-01-2015

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014

-
2014
06-01-2014

-
2013

-
2013

-
2013

-
2013

-
2013
06-01-2013

-
2012

-
2012
06-01-2012

-
2012
06-01-2012

-
2011
06-01-2011

-
2010

-
2009
06-01-2009

-

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Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 214,755,816 $ 398,746,986
Liabilities: $ 0 $ 1
EE Contrib: $ 0 $ 8
Emp Contrib: $ 0
Income/Loss: $ 1,417,690 $ 4,542,268
Total Income: $ 6,785,192 $ 94,498,669
Paid Benefits: $ 13,797,458 $ 48,826,412
Expenses: $ 0 $ 0
  Commission: $ 1,746,415 $ 33,626
Net Income:($ 8,758,681) $ 693,208
Net Assets: $ 205,997,135 $ 326,762,813

Participants

20212020
Total Participants:16401435
Active Part.:195325
Retired Part.:781542
Deceased Part.:7835

Insurance

No Insurance Coverage

Providers

VXJ TFZPIXXLHGACustodial (securities)
Trustee (bank, trust company or similar financial institution)
Trustee (directed)
Investment management
Investment management fees paid directly by plan
Float revenue
Compensation:$771,527
Relation:TRUSTEE, ADVISOR

Features

    1A - Benefits are primarily pay related

Health Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 0 $ 10 $ 4 $ 0 $ 5 $ 0 $ 80 $ 1
Liabilities: $ 0 $ 68 $ 4 $ 20
EE Contrib: $ 0 $ 1 $ 5 $ 65 $ 9
Emp Contrib: $ 0 $ 63 $ 73 $ 3 $ 2 $ 92
Income/Loss: $ 0 $ 0 $ 8 $ 78 $ 0 $ 456 $ 5 $ 7
Total Income: $ 0 $ 0 $ 3 $ 5 $ 4 $ 3,000,000 $ 53 $ 75 $ 9
Paid Benefits: $ 0 $ 1 $ 1 $ 0 $ 1 $ 9 $ 4
Expenses: $ 0 $ 976 $ 8 $ 4 $ 9 $ 8 $ 758 $ 3 $ 69 $ 8 $ 4 $ 209
  Commission: $ 0 $ 95 $ 2 $ 8 $ 148 $ 88 $ 1
Net Income: $ 0 $ 55 $ 400 $ 4 $ 5 $ 18 $ 97 $ 38
Net Assets: $ 0 $ 69 $ 6 $ 0 $ 7 $ 8 $ 1 $ 216

Participants

202120202019201820172016201520142013201220112010
Total Participants:20124944833898108047623886053113427359381693486
Active Part.:1725342609071592671853793378429115687883415
Retired Part.:28763430129492248645369994351079476
Deceased Part.:e913328c6d408b31954e427c10

Insurance

QALHO COTQZZ
Renewal:12-31-2021
Covered:3269
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 165,677
Commission0% $ 0
Fees0% $ 0
POAF IXIHICVET BMSMVWN IK GSRQQ LRIOWEK
Renewal:12-31-2021
Covered:4632
  1. Life Insurance

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 1,738,951
Commission0% $ 0
Fees0.41% $ 7,098
Brokers
UFQC FEYXTHIGM PIONEZA NE VFFFJ YDZYDCX
Renewal:12-31-2021
Covered:2738
  1. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 174,748
Commission0% $ 0
Fees0.65% $ 1,138
Brokers
UHTREXD SOYL & QDBJEL MSPBVJKIB FSZTFPP
Renewal:12-31-2021
Covered:204
  1. Prescription Drug
  2. MEDICARE SUPPLEMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 856,513
Commission0% $ 0
Fees0% $ 0
TMNVDDWW TIUUG JSIX VPM. WH. SQ THYBHNMCUO, LW
Renewal:12-31-2021
Covered:3396
  1. BUSINESS TRAVEL ACCIDENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 19,521
Commission15% $ 2,928
Fees0% $ 0
Brokers
ZSYCHUE KXLSU EMPMY
Renewal:12-31-2021
Covered:265
  1. LEGAL

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 48,131
Commission10.93% $ 5,262
Fees1.98% $ 955
Brokers
ZASN EVWFRFRRR QRLPAFH MI JBBIW VKXYGEN
Renewal:12-31-2021
Covered:1593
  1. Long Term Disab. Ins

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 671,052
Commission0% $ 0
Fees0.64% $ 4,267
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4G - Prepaid legal.

    4H - Long-term disability.

    4I - Severance pay.

    4L - Death benefits (include travel accident but not life insurance).

    4Q - Other.


OSHA

Motor Carrier