SIGMA Actuarial Consulting Group, Inc.
2020 Restaurant Study
You are invited to participate in the 2020 Restaurant Industry Loss Data Survey presented at the Risk Insurance Management Society (RIMS) conference. This is your opportunity to be a part of a very broad benchmark study of your restaurant peers. The greater the participation the more valuable the analysis derived. As a reminder, this is one of the best opportunities to exchange restaurant benchmark data by segment: Quick Service, Table Service, Fast Casual and Cafeteria/Buffet. This is the only restaurant analysis that provides benchmark data involving different brokers and claim administrators. You will receive a confidential report that compares your company’s results versus your collective segment peers and the restaurant industry as a whole.
The survey provides a valuable resource to compare your company’s programs and results against your peers. The analysis takes your accident claim count and claim costs and benchmarks them against sales or payroll.
Anticipated Benchmarks Include:
- WC Total Severities
- WC Medical Severities
- WC Indemnity Severities
- WC Pure Loss Rate per Restaurant
- WC Pure Loss Rate per 200,000 Labor Hours
- WC Pure Loss Rate per $100 Gross Revenue
- WC Pure Loss Rate per $100 of Payroll
- Indemnity Claims as of Total Claims
- No. WC Claims per Restaurant
- No. WC Claims per 200,000 Labor Hours
- No. WC Claims per $100,000 of Revenue
- No. WC Claims per $100,000 of payroll
- WC Loss Development
- WC Claims (%) by Accident Type
- WC Incurred Cost by Accident Type
This year’s results will be presented at the RIMS conference, Restaurant Industry Session, on Tuesday, May 5th, 2020, in Denver, CO. If you are unable to attend, we will e-mail the results of the survey to you within five (5) days of the conference end date.
If you have any questions or would like a data form to submit, contact Al Rhodes at AL@SIGMAactuary.com. Al’s telephone number is 615-376-5110 ext. 202.
See you in Denver!