SIERRA CREST CORP

2480 PRECISION DR, STE H
MINDEN, NV 89423

Talking Points

For the Agent

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

  • Premium increase and carrier group change may indicate a claim occurrence.
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 76% of peers.
  • In the last year, premium Increased by more than 75% 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 in-line with peers, in the 51st percentile.
  • LCM Decreased by more than 75% of peers.
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.

  • 11% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 8% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.425
2023
06-02-2022

2.245
2022

1.550
2021

1.730
2020

1.498
2020
06-02-2019

1.425
2019

1.425
2018

1.425
2017

1.425
2016

1.425
2016

1.400
2015

1.400

Contacts

Industry Classification

Retirement Benefits

Financials

2020
BOY Assets: $ 0
Liabilities: $ 0
EE Contrib: $ 2,561
Emp Contrib: $ 0
Income/Loss: $ 146
Total Income: $ 2,707
Paid Benefits: $ 0
Expenses: $ 0
  Commission: $ 1
Net Income: $ 2,706
Net Assets: $ 2,706

Participants

2020
Total Participants:68
Active Part.:68
Retired Part.:
Deceased Part.:

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.

Motor Carrier