EL PASO GLASS CO INC

531 E KIOWA ST
COLORADO SPRINGS, CO 80903

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 Higher than 86% of peers.
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 Very Good, in the 27th percentile compared to peers.
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.

  • 9% of peers have changed carriers since last year. Those who did, saw a 17.3% decrease in premium vs those who stayed with their current provider had a 7.4% decrease, roughly 2x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 49.1% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.590
2022

1.590
2021

1.540
2020

0.000
2019

-
2019

1.393
2019
11-05-2019

1.250
2018

-
2018

-
2017

-
2016

-
2015

-
2014

-
2013

-
2012

-

Contacts

Z Ahazft
President
(049) 714-8252
fabpydg@oxchsiequln.tqo

QOLU FBKDWX
Benefits Admin
(377) 624-8989
a98b

Ctfm Rjgoam
Owner
(303) 064-1741
02c

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 841,937 $ 697,650 $ 262,239 $ 684,288 $ 182,113 $ 638,426 $ 338,617 $ 646,791 $ 667,638 $ 520,335 $ 884,620 $ 201,963
Liabilities: $ 0 $ 9 $ 7 $ 37 $ 7 $ 67 $ 277
EE Contrib: $ 38,418 $ 29,651 $ 56,066 $ 24,978 $ 945 $ 12,255 $ 69,762 $ 58,436 $ 96,247 $ 76,698 $ 88,812 $ 46,332
Emp Contrib: $ 0 $ 85,810 $ 4,188 $ 55,608 $ 83,446 $ 27,416 $ 75,961 $ 2 $ 5 $ 98,587 $ 14,061 $ 31,887
Income/Loss: $ 111,288 $ 72,144 $ 230,489($ 18,908) $ 42,596 $ 61,230($ 5,527) $ 24,163 $ 58,645 $ 35,719($ 7,270) $ 7,053
Total Income: $ 149,706 $ 219,991 $ 455,923 $ 17,975 $ 140,936 $ 25,245 $ 90,288 $ 86,073 $ 28,671 $ 43,068 $ 7,300 $ 58,360
Paid Benefits: $ 159,092 $ 24,010 $ 63,375 $ 76,554 $ 30,353 $ 5 $ 85,933 $ 2,752 $ 765,356 $ 7,405 $ 889
Expenses: $ 0 $ 9 $ 635 $ 2 $ 120 $ 826
  Commission: $ 1,148 $ 786 $ 668 $ 89 $ 515 $ 1 $ 54 $ 84 $ 298 $ 6 $ 1
Net Income:($ 10,534) $ 630,516 $ 328,894($ 44,870) $ 92,374 $ 75,696 $ 98,469 $ 8,822 $ 24,836($ 63,733) $ 17,182 $ 13,954
Net Assets: $ 831,403 $ 123,409 $ 502,063 $ 281,179 $ 717,003 $ 783,451 $ 37,884 $ 395,521 $ 87,876 $ 52,997 $ 267,308 $ 672,589

Participants

202120202019201820172016201520142013201220112010
Total Participants:233147307351038769388183
Active Part.:1890071712977362d4df40
Retired Part.:a2e21 51c503e5be753027
Deceased Part.:70771709fbc37959077504c91097

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.

    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.