Berger Horticultural Products Ltd.

PO Box 656
Sulphur Springs, TX 75483

Talking Points

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 61st percentile.
  • In the last year, premium Increased by 4%. 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 19th percentile compared to peers.
Good

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.

  • 15% of peers have changed carriers since last year. Those who did, saw a 10.6% decrease in premium vs those who stayed with their current provider had a 4.8% increase, roughly 2x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 50.9% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.757
2022

1.600
2022

1.750
2022

-
2022

-
2022

1.885
2022

-
2022

1.757
2022

1.860
2022

1.585
2022
02-22-2022

1.580
2022
02-22-2022

1.780
2021

1.600
2021

1.600
2021

1.580
2021

1.580
2021

-
2021

1.750
2021

-
2021

1.572
2021

-
2021

1.885
2021

-
2021

2.084
2021

1.540
2021

1.757
2021

1.696
2021

1.860
2021

1.585
2021

1.885
2021

-
2021

1.780
2021

1.757
2021

1.860
2021

1.585
2021
12-07-2021

-
2020

1.600
2020

1.421
2020

-
2020

-
2020

1.682
2020

2.084
2020

1.540
2020

1.617
2020

1.696
2020

1.427
2019

1.600
2019

1.421
2019

-
2019

-
2019

1.682
2019

1.540
2019

1.617
2019

-
2019

1.890
2019

1.374
2018

1.900
2018

-
2018

-
2018

-
2018

-
2018

2.406
2018

1.778
2018
10-01-2018

-
2017

1.900
2017

-
2017

-
2017

2.178
2017

2.226
2016
10-01-2016

1.954
2015

1.954
2014
10-01-2014

1.954

Contacts

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President
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Benefits Admin
(412) 178-3043
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President
(561) 626-0270
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Owner
(515) 847-1097
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 2,598,292 $ 8,360,266 $ 7,038,758 $ 5,316,233 $ 4,018,999 $ 514,911 $ 502,128 $ 44,246 $ 716,133 $ 694,248 $ 810,671 $ 287,021
Liabilities: $ 0 $ 80 $ 15 $ 4 $ 0
EE Contrib: $ 370,049 $ 304,355 $ 970,451 $ 952,491 $ 544,804 $ 209,366 $ 5,825 $ 84,072 $ 98,337 $ 93,012 $ 97,080 $ 54,488
Emp Contrib: $ 141,051 $ 10,664 $ 17,296 $ 63,246 $ 49,922 $ 16,709 $ 68,747 $ 45,327 $ 2,060 $ 92,789 $ 22,117 $ 25,819
Income/Loss: $ 406,039 $ 530,369 $ 283,520($ 335,006) $ 286,752 $ 5,028($ 72,036) $ 52,124 $ 81,406 $ 97,051($ 4,185) $ 38,353
Total Income: $ 917,139 $ 352,975 $ 25,003 $ 75,467 $ 796,590 $ 219,843 $ 153,894 $ 617,785 $ 734,001 $ 363,594 $ 92,050 $ 18,198
Paid Benefits: $ 345,184 $ 3 $ 559,561 $ 40,900 $ 718 $ 683,302 $ 32,842 $ 818,197 $ 8
Expenses: $ 0 $ 1 $ 74 $ 3 $ 3 $ 7 $ 5 $ 7
  Commission: $ 22,962 $ 77,774 $ 75,020 $ 92,459 $ 6,992 $ 5 $ 9 $ 42 $ 72 $ 1
Net Income: $ 548,993 $ 187,809 $ 520,709 $ 37,646 $ 25,122 $ 691,815 $ 519,361 $ 2,478 $ 136,996($ 5,161) $ 73,191 $ 958,925
Net Assets: $ 3,147,285 $ 4,338,985 $ 6,156,049 $ 2,686,014 $ 4,489,889 $ 1,983,303 $ 857,060 $ 858,579 $ 544,860 $ 417,277 $ 51,105 $ 527,061

Participants

202120202019201820172016201520142013201220112010
Total Participants:655102652743586638178298
Active Part.:63482766582999674e166616
Retired Part.:d320c02d9d8d6b1b8506 cd34
Deceased Part.:6a8150 e481e05ef07c4c5ac0

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.

    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.