CLOUDWAVE INC

1775 TYSONS BLVD FL 5
TYSONS CORNER, VA 22102

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 in-line with peers, in the 40th percentile.
  • In the last year, LCM Increased by 7%. While peers Increased an average of 6%.
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.

  • 11% of peers have changed carriers since last year.
  • Of those who changed carriers, 1.3% decreased their LCM vs those who stayed with their current provider who saw a 6.2% increase.
  • Current Carrier's market share is in the 95th percentile at 16.2% of the market.
Good

Business Stats

Policy History

Term Carrier LCM
2022

-
2022

1.350
2022

1.145
2021

-
2021

1.350
2021

1.075
2020

1.075
2019

1.150
2018

1.150
2017

-

Contacts

WFQUCBFIW XRVOITCLHKMG
Benefits Admin
(569) 030-4364
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Industry Classification

Retirement Benefits

Financials

20212020201920182017
BOY Assets: $ 614,295 $ 616,716 $ 737,564 $ 241,474 $ 999,067
Liabilities: $ 0 $ 6 $ 7 $ 1 $ 43
EE Contrib: $ 99,905 $ 18,103 $ 26,704 $ 88,327 $ 46,887
Emp Contrib: $ 47,533 $ 26,673 $ 92,378 $ 36,909 $ 6,880
Income/Loss: $ 102,243 $ 50,745 $ 46,434($ 3,683) $ 15,058
Total Income: $ 249,681 $ 707,910 $ 284,972 $ 43,182 $ 11,333
Paid Benefits: $ 12,624 $6,000,000,000
Expenses: $ 0 $ 1 $ 7,577
  Commission: $ 9,104 $ 5,812 $ 7,749 $ 8,502 $ 9
Net Income: $ 227,953 $ 893,362 $ 184,194 $ 8,999 $ 99,079
Net Assets: $ 842,248 $ 634,778 $ 315,269 $ 494,146 $ 999,844

Participants

20212020201920182017
Total Participants:2448702
Active Part.:2219280
Retired Part.:b1fcaa517
Deceased Part.:467c77

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.