TERRA ENERGY PARTNERS LLC

3050 POST OAK BLVD, STE 1500
HOUSTON, TX 77056

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 46th percentile.
  • In the last year, premium Decreased by 11%. While peers Increased an average of 9%.
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 78% 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.

  • 15% of peers have changed carriers since last year. Those who did, saw a 31.9% decrease in premium vs those who stayed with their current provider had a 4.8% decrease, roughly 7x those who stayed with their current provider.
  • Current Carrier's market share is in the 75th percentile at 8.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

-
2023

2.290
2023

1.768
2022

-
2022

2.290
2022

1.700
2021

-
2021

2.290
2021

1.700
2020

-
2020

2.290
2020

1.478
2019

-
2019

1.235
2018

-
2018

1.244
2017

-
2017

2.290
2017

-
2016

-

Contacts

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President
(306) 864-1452
pma.mfkwye@sbbljrrm.ttt

Vvdjvlk Thlf
Chief Executive Officer
(859) 277-9160
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Benefits Admin
(504) 153-0184
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(304) 076-4193
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Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015
BOY Assets: $ 28,796,076 $ 13,177,644 $ 14,663,560 $ 60,950,711 $ 6,588,058 $ 3,355,686 $ 9
Liabilities: $ 0 $ 9 $ 3 $ 9
EE Contrib: $ 2,934,471 $ 5,835,395 $ 9,372,456 $ 8,819,774 $ 4,216,526 $ 6,424,981 $ 8,374,545
Emp Contrib: $ 2,306,226 $ 5,275,492 $ 6,298,527 $ 2,460,926 $ 6,627,158 $ 482,921 $ 65,517
Income/Loss: $ 2,362,926 $ 6,350,313 $ 6,004,695($ 8,955,858) $ 2,434,214 $ 317,685 $ 95,316
Total Income: $ 9,993,662 $ 4,642,292 $ 9,234,471 $ 1,999,225 $ 2,507,797 $ 2,064,741 $ 1,271,943
Paid Benefits: $ 1,020,782 $ 714,894 $ 534,304 $ 611,922 $ 740,687 $ 2,227
Expenses: $ 0 $ 0 $ 46 $ 0 $ 0 $ 0
  Commission: $ 80,905 $ 32,077 $ 98,314 $ 73 $ 75 $ 77
Net Income: $ 8,891,975 $ 326,741 $ 7,093,169 $ 3,073,010 $ 2,719,556 $ 7,091,325 $ 9,736,008
Net Assets: $ 37,688,051 $ 50,770,432 $ 8,520,194 $ 85,904,013 $ 57,869,767 $ 3,939,316 $ 1,507,833

Participants

2021202020192018201720162015
Total Participants:26013621561933997609
Active Part.:23308363091546388517
Retired Part.:10a 8b40f2f0f
Deceased Part.:03b9e 4a3da235e74e

Insurance

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Renewal:12-31-2021
Covered:28
PENSION_EOY_SEP_ACCT_AMT: 0PENSION_PREM_PAID_TOT_AMT: 0

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 0
Commission $ 0
Fees $ 0

Providers

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8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Recordkeeping fees
Compensation:$58,100
Relation:RECORDKEEPER
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8515 EAST ORCHARD ROAD
GREENWOOD VILLAGE, CO 80111
Investment management
Compensation:$22,805
Relation:INVESTMENT MGMT

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.

    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.

    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

Financials

20212020201920182017
BOY Assets: $ 0 $ 9 $ 0
Liabilities: $ 0 $ 5 $ 4 $ 77
EE Contrib: $ 0 $ 5 $ 0
Emp Contrib: $ 0 $ 44 $ 0 $ 89
Income/Loss: $ 0 $ 3
Total Income: $ 0 $ 1 $ 437
Paid Benefits: $ 0 $ 1 $ 898 $ 7
Expenses: $ 0 $ 7 $ 0 $ 137
  Commission: $ 0 $ 3 $ 67
Net Income: $ 0 $ 4 $ 2
Net Assets: $ 0 $ 9

Participants

20212020201920182017
Total Participants:237777880543149
Active Part.:236877530327741
Retired Part.:172 1
Deceased Part.:319e01

Insurance

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Renewal:12-31-2021
Covered:236
  1. Life Insurance
  2. Long Term Disab. Ins
  3. ACCIDENTAL DEATH AND DISMEMBERMENT

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 231,862
Commission0% $ 0
Fees4.62% $ 10,720
Brokers
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Renewal:12-31-2021
Covered:736
  1. Health
  2. Dental
  3. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 4,780,736
Commission0% $ 0
Fees0% $ 0

Providers

No Providers

Features

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

    4D - Dental.

    4E - Vision.

    4B - Life insurance.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.

    4L - Death benefits (include travel accident but not life insurance).


OSHA

Motor Carrier