COLORADO HOME MORTGAGES

621 SOUTHPARK DR, STE 300
LITTLETON, CO 80120

Talking Points

For the Agent

These are points that might help guide an agent as they look to approach a prospect.

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
Needs Attention

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 68th percentile.
  • In the last year, premium Decreased by 5%. While peers Increased an average of 1%.
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 in-line with peers, in the 37th percentile.
  • In the last year, LCM Increased by 3%. While peers Increased an average of 4%.
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.

  • 4% of peers have changed carriers since last year. Those who did, saw a 22.2% decrease in premium vs those who stayed with their current provider had a 0.3% increase, roughly 87x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 20% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.590
2021

1.540
2020

0.000
2019

-
2018

-
2017

-
2016

-
2015

-
2014

-
2013

-
2012

-

Contacts

Pxkqcha Ruywuovm
President
(894) 570-1083
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COKTJKL MFHBHLIU
Benefits Admin
(160) 775-5422
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BLAVLJJ NBIDJTIT
Benefits Admin
(154) 446-8337
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,217,534 $ 823,750 $ 998,098 $ 624,763 $ 127,822 $ 542,068 $ 866,736 $ 257,879 $ 955,287 $ 47,448 $ 72,168 $ 27,987
Liabilities: $ 0 $ 4 $ 970 $ 17 $ 37 $ 7,000 $ 43 $ 9 $ 42
EE Contrib: $ 61,656 $ 67,470 $ 86,519 $ 42,133 $ 26,969 $ 607,140 $ 27,394 $ 21,332 $ 36,301 $ 66,604 $ 96,216 $ 27,342
Emp Contrib: $ 47,715 $ 66,251 $ 25,560 $ 37,740 $ 51,445 $ 9,851 $ 63,445 $ 1,100 $ 71,029 $ 8,465 $ 3,570 $ 569
Income/Loss: $ 192,996 $ 237,197 $ 643,625($ 69,449) $ 375,066 $ 43,119($ 4,846) $ 45,441 $ 3,561 $ 23,925($ 1,184) $ 8,168
Total Income: $ 302,367 $ 225,231 $ 210,792 $ 41,999 $ 818,524 $ 166,776 $ 81,896 $ 51,775 $ 348,487 $ 35,828 $ 61,921 $ 85,813
Paid Benefits: $ 0 $ 7 $ 5 $ 89,480 $ 0 $ 50,475 $ 526 $ 55 $ 5,000 $ 52 $ 4
Expenses: $ 0 $ 7 $ 1 $ 2 $ 7 $ 1 $ 6 $ 7 $ 271 $ 71 $ 15
  Commission: $ 121 $ 93 $ 75 $ 95 $ 913 $ 89 $ 76 $ 298
Net Income: $ 302,246 $ 500,167 $ 19,290($ 27,469) $ 130,375 $ 954,683 $ 62,671 $ 98,203 $ 95,604 $ 91,663 $ 73,757 $ 56,217
Net Assets: $ 1,519,780 $ 5,216,795 $ 738,759 $ 39,142 $ 557,459 $ 733,335 $ 468,478 $ 863,836 $ 894,657 $ 630,197 $ 23,202 $ 58,780

Participants

202120202019201820172016201520142013201220112010
Total Participants:709391863122
Active Part.:6604234175daf6f
Retired Part.:9916601878e874669946
Deceased Part.:44cf9d62cdc29c8c8cd873c

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.