BAUMANN SPRINGS USA INC

3075 N GREAT SOUTHWEST P, STE 100
GRAND PRAIRIE, TX 75050

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 Higher than 86% of peers.
  • In the last year, premium Increased by 3%. While peers Increased an average of 0%.
Needs Attention

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 46th percentile.
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.

  • 11% of peers have changed carriers since last year. Those who did, saw a 1% decrease in premium vs those who stayed with their current provider had a 0.2% increase, roughly 6x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 39.3% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.693
2021

1.693
2020

1.693
2019

1.693
2018

-
2017
01-25-2017

-
2016
01-26-2016

-
2015

-
2014

-
2014

-
2013
12-31-2013

-
2010
12-27-2009

-
2009
12-01-2009

-

Contacts

ONPWQ YCUYZYSI
Benefits Admin
(747) 868-4254
7d78

BWOI MHLHI
Benefits Admin
(160) 111-9692
276e

CMIKFYA QCWFVJ
Benefits Admin
(386) 525-5008
7c1ba

Shdqi Idwzv
President
(603) 812-1279
8f60

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 3,359,306 $ 7,588,601 $ 3,369,287 $ 4,107,276 $ 9,730,974 $ 6,344,272 $ 1,060,414 $ 2,286,685 $ 4,484,058 $ 6,404,413 $ 9,598,838 $ 21,713
Liabilities: $ 0 $ 2 $ 6 $ 6 $ 6 $ 0
EE Contrib: $ 279,896 $ 588,111 $ 267,548 $ 405,165 $ 94,610 $ 394,699 $ 372,428 $ 537,710 $ 764,158 $ 269,207 $ 367,106 $ 600,007
Emp Contrib: $ 84,180 $ 93,624 $ 23,528 $ 33,283 $ 522,868 $ 22,661 $ 3,571 $ 7,214 $ 83,122 $ 44,679 $ 67,148 $ 97,315
Income/Loss: $ 352,823 $ 272,980 $ 517,216($ 517,376) $ 593,118 $ 806,344($ 84,452) $ 891,837 $ 97,123 $ 857,108 $ 57,111 $ 939,550
Total Income: $ 722,220 $ 488,806 $ 869,320 $ 71,901 $ 896,318 $ 473,498 $ 249,402 $ 978,487 $ 183,411 $ 185,245 $ 530,666 $ 127,862
Paid Benefits: $ 738,692 $ 785,268 $ 988,418 $ 352,394 $ 458,016 $ 114,590 $ 67,407 $ 636,537 $ 53,101 $ 779,549 $ 414,173 $ 187,120
Expenses: $ 0 $ 91 $ 9 $ 185 $ 8 $ 7 $ 85 $ 3
  Commission: $ 3,704 $ 5,261 $ 3,337 $ 8,941 $ 1,666 $ 2,089 $ 5,648 $ 9,961 $ 918 $ 377 $ 22 $ 3,521
Net Income:($ 20,176) $ 347,532 $ 929,488($ 730,482) $ 785,884 $ 910,065 $ 54,528($ 966,387) $ 11,598 $ 425,329 $ 22,989 $ 765,986
Net Assets: $ 3,339,130 $ 284,395 $ 6,443,907 $ 8,424,820 $ 1,070,861 $ 388,661 $ 7,348,118 $ 378,701 $ 4,217,874 $ 6,503,518 $ 2,301,332 $ 3,239,556

Participants

202120202019201820172016201520142013201220112010
Total Participants:144513832552594561065449886835369
Active Part.:1321186466328869583546907adf57bb782
Retired Part.:467908db22b70322e6502d2d9
Deceased Part.:4b14281642e 4bd46d76e

Insurance

GJFIAVVHP ZFYA NHTTMJIXD PVHVHAW
Renewal:12-31-2021
Covered:144
PENSION_EOY_SEP_ACCT_AMT: 506528PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 451
Fees $ 0
Brokers

Providers

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PXFZNVTVW PTSE IVNZKFEQL ZKOIDBTContract Administrator
Participant loan processing
Direct payment from the plan
Recordkeeping fees
Compensation:$3,703
Relation:CONTRACT ADMINISTRATOR
OGGGEADF SNXRXMNOOY JMQGQBZNFYSWInvestment advisory (plan)
Other investment fees and expenses
Compensation:$0
Relation:INVESTMENT ADVISORY
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Source: PRINCIPAL LIFE INSURANCE COMPANY
Investment advisory (plan)
Other investment fees and expenses
Compensation:1 BASIS POINT ANNUALLY ON ELIGIBLE PLAN ASSETS IN WILSHIRE 3(21) OR WILSHIRE 3(21) AUTO-EXECUTE FIDUCIARY SERVICE.

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.

Health Benefits

Financials

2021202020192018
BOY Assets: $ 0 $ 8 $ 4 $ 4
Liabilities: $ 0 $ 6 $ 6 $ 0
EE Contrib: $ 0 $ 8 $ 8
Emp Contrib: $ 0 $ 0 $ 3 $ 7
Income/Loss: $ 0 $ 20 $ 80 $ 6
Total Income: $ 0 $ 8
Paid Benefits: $ 0 $ 6 $ 41
Expenses: $ 0 $ 8 $ 7
  Commission: $ 0 $ 67
Net Income: $ 0 $ 3 $ 4 $ 8
Net Assets: $ 0 $ 9 $ 25

Participants

2021202020192018
Total Participants:63049159902
Active Part.:61460690329
Retired Part.: 2d573d
Deceased Part.:ad4f01

Insurance

YMVZVY CSHZ BLZAMGZ LAXAKIMKFGD
Renewal:10-31-2021
Covered:140
  1. Health
  2. Dental

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 766,404
Commission6.13% $ 46,982
Fees0.2% $ 1,500
Brokers
KETVQ
Renewal:10-31-2021
Covered:15
  1. ACCIDENT, CRITICAL CARE, CRITICAL ILLNESS, CANCER CARE, CANCER PROTECTION, HOSPITAL CHOICE

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 9,289
Commission23.61% $ 2,193
Fees0% $ 0
Brokers
LGYYYISE KNHJ DMUWWJGNJ ADMPRXG
Renewal:10-31-2021
Covered:61
  1. Vision
  2. Life Insurance
  3. Temp. Disability Insurance
  4. Long Term Disab. Ins
  5. AD&D, ADDSUP1, ADDSUPC, ADDSUPS, DEPSUPC, DEPSUPS, LIFSUP1

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 23,881
Commission12.42% $ 2,966
Fees7.99% $ 1,908
Brokers
WLIRKZ CC UDSKH QHKR CMOYDMYAE UWDWJXH
Renewal:10-31-2021
Covered:124
  1. Long Term Disab. Ins

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 7,534
Commission18% $ 1,356
Fees0% $ 0
Brokers
CWQUYW SD DATJS KSQF RGCQDXWQO PWESKHN
Renewal:10-31-2021
Covered:124
  1. Life Insurance
  2. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 4,866
Commission18% $ 876
Fees0% $ 0
Brokers
XPCRUT ZG OKGJE PQTF OMBXVOHWA CIQEJMG
Renewal:10-31-2021
Covered:23
  1. Temp. Disability Insurance

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 5,721
Commission18% $ 1,030
Fees0% $ 0
Brokers
CSHGGO KJ VZZQK XKSL DSFAXQEEZ TGNLUJB
Renewal:10-31-2021
Covered:27
  1. Life Insurance
  2. VOL AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 10,802
Commission18% $ 1,944
Fees0% $ 0
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).

    4H - Long-term disability.

    4Q - Other.