COCHRAN PROPERTY TAX SERVICE

12807 HAYNES RD, BLDG F
HOUSTON, TX 77066

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 87% of peers.
  • In the last year, premium Decreased by 10%. While peers Increased an average of 4%.
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 Higher than 82% of peers.
  • Shopping around for a carrier that would provide a more competative tier would make sense.
  • In the last year, LCM Increased by 4%. While peers Increased an average of 2%.
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.

  • 1% of peers have changed carriers since last year. Those who did, saw a 98% decrease in premium vs those who stayed with their current provider had a 2.6% decrease, roughly 38x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 64.9% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

2.289
2021

2.203
2020

2.203
2019

2.203
2018

2.203
2017

1.985
2016

1.985
2015

1.985
2014

-

Contacts

NVGD M. FRUKEUS
President
(092) 994-8364
dmcz@emsifcomp.bsz

KSIL P. NRLNGFO
Benefits Admin
(881) 277-8529
fecd

Fmab Auaflbe
President
(444) 425-6360
44ff

Industry Classification

Retirement Benefits

Financials

20212020201920182017201620152014201320122011
BOY Assets: $ 1,134,697 $ 3,439,096 $ 704,666 $ 405,158 $ 345,686 $ 135,464 $ 669,989 $ 886,551 $ 783,951 $ 675,974 $ 419,569
Liabilities: $ 0 $ 6 $ 8 $ 3 $ 61 $ 1 $ 63
EE Contrib: $ 58,500 $ 93,200 $ 96,260 $ 12,841 $ 89,180 $ 85,660 $ 51,028 $ 96,700 $ 95,344 $ 66,137 $ 25,899
Emp Contrib: $ 26,986 $ 39,071 $ 31,207 $ 57,036 $ 89,558 $ 49,330 $ 30,386 $ 93,647 $ 55,436 $ 12,531 $ 68,307
Income/Loss: $ 221,755 $ 7,307 $ 62,825 $ 22,549 $ 95,606 $ 10,849($ 11,767) $ 6,599 $ 90,862 $ 38,468($ 72)
Total Income: $ 307,241 $ 6,327 $ 69,360 $ 817,229 $ 965,018 $ 58,446 $ 31,554 $ 64,105 $ 51,348 $ 66,898 $ 67,547
Paid Benefits: $ 0 $ 57 $ 5 $ 6,000 $ 33
Expenses: $ 0 $ 725 $ 25 $ 2 $ 2
  Commission: $ 0 $ 12 $ 7 $ 2 $ 3 $ 1
Net Income: $ 307,241 $ 26,950 $ 43,107 $ 905,606 $ 841,143 $ 55,671 $ 68,539 $ 81,898 $ 15,523 $ 68,219 $ 89,473
Net Assets: $ 1,441,938 $ 1,529,335 $ 2,686,276 $ 963,580 $ 43,278 $ 390,085 $ 676,341 $ 123,620 $ 977,924 $ 965,728 $ 597,722

Participants

20212020201920182017201620152014201320122011
Total Participants:30777956874
Active Part.:300755738ced24
Retired Part.:f7bc90850c0fae3f3c8
Deceased Part.:eb7e0e04cb ce4d78b8c

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    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.

    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.