TISD INC

1406 E RED RIVER ST
VICTORIA, TX 77901

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 Higher than 99% of peers.
  • In the last year, premium Decreased by 37%. While peers Increased an average of 2%.
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 64% 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.

  • 6% of peers have changed carriers since last year. Those who did, saw a 26.3% decrease in premium vs those who stayed with their current provider had a 4.6% increase, roughly 6x those who stayed with their current provider.
  • Current Carrier's market share is in the 75th percentile at 1.3% 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

1.693
2021

1.693
2020

1.693
2019

1.693
2018

-
2017

-
2016

-
2015

-
2014

-

Contacts

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Benefits Admin
(808) 715-2362
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Benefits Admin
(684) 817-5188
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Vice President
(553) 674-6379
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 2,800,868 $ 3,990,094 $ 6,343,484 $ 2,304,228 $ 6,439,443 $ 5,757,241 $ 9,157,138 $ 8,127,854 $ 336,967 $ 424,744 $ 580,891 $ 856,557
Liabilities: $ 0 $ 9 $ 99 $ 49 $ 9 $ 49
EE Contrib: $ 201,904 $ 149,498 $ 269,920 $ 682,523 $ 368,008 $ 122,986 $ 295,326 $ 5,642,144 $ 45,067 $ 60,490 $ 68,714 $ 13,871
Emp Contrib: $ 116,521 $ 29,910 $ 999,512 $ 78,728 $ 63,103 $ 212,823 $ 95,933 $ 35,837 $ 98,025 $ 69,591 $ 70,511 $ 30,817
Income/Loss: $ 264,966 $ 304,929 $ 983,095($ 584,036) $ 463,104 $ 370,255($ 86,444) $ 70,974 $ 168,143 $ 59,427($ 67,323) $ 27,634
Total Income: $ 583,391 $ 185,142 $ 566,761 $ 474,983 $ 755,197 $ 896,795 $ 733,008 $ 2,292,409 $ 95,653 $ 584,081 $ 46,116 $ 500,916
Paid Benefits: $ 1,011,097 $ 2,567,175 $ 41,282 $ 330,732 $ 23,442 $ 1,046,819 $ 257,168 $ 91,141 $ 5,437 $ 3,239 $ 4,546 $ 27,532
Expenses: $ 0 $ 73 $ 4 $ 6 $ 6 $ 76 $ 9 $ 8 $ 9 $ 4
  Commission: $ 13,330 $ 78,023 $ 77,610 $ 118 $ 57 $ 398 $ 128 $ 515 $ 64 $ 8 $ 67 $ 571
Net Income:($ 441,036)($ 914,611) $ 137,672($ 606,538) $ 420,631($ 558,846) $ 542,853 $ 1,403,466 $ 141,682 $ 63,416 $ 83,847 $ 391,250
Net Assets: $ 2,359,832 $ 6,626,711 $ 7,610,563 $ 7,593,633 $ 986,027 $ 3,857,973 $ 3,420,673 $ 4,133,964 $ 1,094,724 $ 347,135 $ 229,892 $ 553,881

Participants

202120202019201820172016201520142013201220112010
Total Participants:628823578528804256783581
Active Part.:495531458347589497cf2c3 67
Retired Part.:12223d263ab27f 237ef2d
Deceased Part.:98482bb83627bd008e

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.

    2R - Participant-directed brokerage accounts provided as an investment option under the plan.

    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.

    3H - Plan sponsor(s) is (are) a member(s) of a controlled group (Code sections 414(b), (c), or (m)).

Health Benefits

Participants

2020
Total Participants:40
Active Part.:40
Retired Part.:
Deceased Part.:

Insurance

No Insurance Coverage

Providers

No Providers

Features

    4R - Unfunded, fully insured, or combination unfunded/fully insured welfare plan that will not file an annual report for next plan year pursuant to 29 CFR 2520.104-20.


OSHA