NATIONAL INDOOR R

5501 INDEPENDENCE PKWY, STE 314
PLANO, TX 75023

Talking Points

For the Agent

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

  • An osha violation that is followed by a premium increase may indicate a WC claim has occurred.
  • 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 88% of peers.
  • In the last year, premium Increased by 53%. While peers Increased an average of 3%.
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 18th 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.

  • 7% of peers have changed carriers since last year. Those who did, saw a 25.7% decrease in premium vs those who stayed with their current provider had a 6.2% increase, roughly 4x those who stayed with their current provider.
  • Current Carrier's market share is in the 1st percentile at 2.4% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.731
(Current: 1.730)
2023

1.400
2023

1.500
2023

-
2023

1.450
2022

-
2022

1.400
2022

1.500
2022

1.450
2021
PEO
1.335
2021
PEO
1.335
2021
PEO
1.080
2021
PEO
1.080
2021
01-01-2021
PEO
1.338
2021
01-01-2021
PEO
1.004
2020
PEO
1.335
2020
PEO
1.335
2020
PEO
1.338
2020
PEO
1.338
2020
PEO
1.080
2020
PEO
1.338
2020
07-01-2019
PEO
1.513
2020
07-01-2019
PEO
1.538
2019
PEO
1.805
2019
PEO
1.335
2019
PEO
1.513
2019
PEO
1.338
2019
PEO
1.080
2018
PEO
1.805
2017
PEO
1.335
2016
PEO
1.335
2015
PEO
1.335
2014
PEO
-

Contacts

Bpan Lboll
Chief Technology Officer
(506) 810-5552
09c

15f
(804) 449-7768
0 50d

Industry Classification

Retirement Benefits

Financials

2021
BOY Assets: $ 0
Liabilities: $ 0
EE Contrib: $ 1,461,789
Emp Contrib: $ 0
Income/Loss:($ 51,604)
Total Income: $ 1,744,944
Paid Benefits: $ 312,269
Expenses: $ 0
  Commission: $ 28,311
Net Income: $ 1,387,499
Net Assets: $ 3,745,103

Participants

2021
Total Participants:361
Active Part.:314
Retired Part.:
Deceased Part.:

Insurance

No Insurance Coverage

Providers

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SYZHXICK JQCTTRGNWBD VZWXGHGGYNDIZParticipant loan processing
Recordkeeping fees
Account maintenance fees
Compensation:$19,004
Relation:RECORDKEEPER
MVILLF OHFLAQRVKK HOIBDLNW AYQInvestment advisory (plan)
Compensation:$9,188
Relation:ADVISOR

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.

    2S - Plan provides for automatic enrollment in plan that has employee contributions deducted from payroll.

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.

    3B - Plan covering Self-Employed individuals.

    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.

Health Benefits

Participants

2021
Total Participants:308
Active Part.:306
Retired Part.:2
Deceased Part.:

Insurance

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Renewal:12-31-2021
Covered:500
  1. Dental
  2. Vision
  3. Life Insurance
  4. Temp. Disability Insurance
  5. PPO Contract
  6. Indemnity Contract
  7. ACCIDENT, AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 242,863
Commission7.56% $ 18,366
Fees0% $ 0
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4B - Life insurance.

    4D - Dental.

    4E - Vision.

    4F - Temporary disability (accident and sickness).

    4Q - Other.


OSHA