FOREMARK PERFORMANCE CHEMICALS INC

PO BOX 9769
THE WOODLANDS, TX 77387

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 55th percentile.
  • In the last year, premium Decreased by 11%. While peers Increased an average of 5%.
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 Higher than 72% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
Needs Attention

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.

  • 2% of peers have changed carriers since last year. Those who did, saw a 65% decrease in premium vs those who stayed with their current provider had a 6.8% increase, roughly 10x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 66.7% of the market.
Needs Attention

Similar Businesses

Business Stats

Policy History

Term Carrier Premium LCM
2024

1.693
2024

1.695
2024

1.450
2023

1.693
2023

1.695
2023

1.450
2022

1.693
2022

1.695
2022

1.450
2021

1.693
2021

1.450
2020

1.693
2020

1.450
2019

-

Contacts

Mxnc Fiopigvkr
Plant Manager
(030) 079-6488
zwlc.zfanbgngw@ztxzcsuxracqjwazxhi.olf

Bjanh Gfzsu
Chief Executive Officer
(924) 555-5418
qbvbe.yktss@cowlvqxfnoxxpifqqsl.gxf

d
(403) 338-7458
08674

Industry Classification