305 EVENT GALLERY LLC DBA FIVE STAR
601 E LOUISIANA ST
MCKINNEY, TX 75069
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 37th percentile.
- In the last year, premiumIncreasedby more than 75% of peers.
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 isHigherthan 85% of peers.
- Shopping around for a carrier that would provide a more competative tier would make sense.
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.
- 6% of peers have changed carriers since last year.
- Current Carrier's market share is in the 75th percentile at 5% of the market.
Business Stats
Policy History
Term | Carrier | Premium | LCM | |
---|---|---|---|---|
2022 |
1.997 | |||
2021 |
1.943 | |||
2020 |
1.943 | |||
2019 |
1.842 | |||
2018 |
2.488 |
Contacts
Industry Classification
Hotel--Restaurant Employees
Eating Places
Caterers
91547
Commissary Work
11288
熟食店
44431
Health Care Facilities--Homes for the Aged--Other Than Not-For-Profit
45191
Hotels and Motels--with Pools or Beaches--Four Stories or More
45190
Hotels and Motels--with Pools or Beaches--Less Than Four Stories