YELLOW ROSE STEEL FABRICATORS INC

14239 SOMMERMEYER ST
HOUSTON, TX 77041

Talking Points

For the Agent

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

  • Premium decrease and carrier tier change may indicate competitive situation and incumbent prevailed.
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 in-line with peers, in the 50th percentile.
  • In the last year, premium Decreased by 2%. 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 Very Good, in the 7th percentile compared to peers.
  • In the last year, LCM Increased by 55%. While peers Increased an average of 1%.
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.

  • 19% of peers have changed carriers since last year. Those who did, saw a 35.4% decrease in premium vs those who stayed with their current provider had a 1.9% increase, roughly 18x those who stayed with their current provider.
  • Of those who changed carriers, 0.6% increased their LCM vs those who stayed with their current provider who saw a 1.1% increase.
  • Current Carrier's market share is in the 50th percentile at 3.2% 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
2022

1.320
2021

0.850
2021

-
2021

0.900
2021

-
2021

0.981
2021

1.000
2021

0.965
2021

1.000
2020

2.625
2020

-
2020

-
2020

1.544
2020

2.719
2020

2.042
2020

1.660
2020

2.077
2019

2.316
2019

-
2019

-
2019

1.544
2019

2.719
2019

-
2019

1.660
2019

2.077
2019

-
2018

1.853
2018

-
2018

1.455
2018

2.039
2018

1.600
2018

1.862
2018

-
2017

2.255
2017

-
2017

1.387
2017

2.039
2017

1.447
2017

1.862
2016

2.255
2016

1.387
2016

-
2016

1.862
2016
11-26-2015

2.039
2015

-
2015

-
2015

1.387
2015

2.039
2015

2.488
2015

1.862
2014

-
2013

-
2013

1.841

Contacts

Aeg Sfoesk
Partner
(137) 036-3264
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FCFN APUNIEO
Benefits Admin
(530) 431-2174
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XKU WUVXG
Benefits Admin
(849) 951-7044
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Ocw Wkmnj
President
(632) 552-8043
kwii@trzubljffrcsl.dau

CNI VTQJB
President
(759) 861-0675
iyxrng@stssdonjnpvy.qnq

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(427) 229-0955
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BZWXNHE J. XJBXC
Benefits Admin
(963) 852-8841
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Industry Classification

Retirement Benefits

Financials

20212020201920182017
BOY Assets: $ 0 $ 12,177 $ 199 $ 10,994
Liabilities: $ 0 $ 946 $ 65 $ 0 $ 40
EE Contrib: $ 600 $ 9,147 $ 55,360 $ 6,695 $ 41,654
Emp Contrib: $ 0 $ 1,402 $ 9,470 $ 9 $ 8
Income/Loss: $ 15 $ 1,999 $ 780($ 824) $ 705
Total Income: $ 615 $ 85,498 $ 90,486 $ 13,825 $ 48,379
Paid Benefits: $ 0 $ 51,804 $ 3,772 $ 71,086 $ 1
Expenses: $ 0 $ 2 $ 191 $ 2,204 $ 0
  Commission: $ 1 $ 69 $ 4 $ 3
Net Income: $ 614($ 63,955) $ 87,526 $ 2,179 $ 35,093
Net Assets: $ 614 $ 78 $ 18,701 $ 22,062 $ 32,767

Participants

20212020201920182017
Total Participants:1f11906
Active Part.:14878
Retired Part.:dc31f039
Deceased Part.:7fd9b40ea

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.


OSHA

Motor Carrier