RIO ENERGY INTERNATIONAL INC

5718 WESTHEIMER RD, STE 1806
HOUSTON, TX 77057

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 51st percentile.
  • In the last year, premium Decreased by 16%. While peers Increased an average of 1%.
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 98% 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.

  • 9% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 95th percentile at 12.4% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

3.146
2023

-
2022

3.146
2022

-
2021

3.146
2021

-
2020

3.403
2020

-
2019

3.060
2019

-
2018

3.150
2018

-
2017

3.150
2017

-
2016

3.150
2016

-
2015

-
2015

-
2013

-
2009
02-02-2009

-

Contacts

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(615) 720-5262
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Manager
(019) 871-0174
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(956) 864-7210
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Benefits Admin
(259) 732-1140
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President
(830) 081-5806
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Director
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 21,419,810 $ 23,305,266 $ 53,312,154 $ 79,753,626 $ 99,764,821 $ 93,381,661 $ 7,914,750 $ 6,333,275 $ 1,817,332 $ 3,756,108 $ 5,337,553 $ 7,489,002
Liabilities: $ 0 $ 5 $ 6 $ 6
EE Contrib: $ 554,791 $ 642,224 $ 7,562,092 $ 544,316 $ 515,967 $ 672,638 $ 407,258 $ 349,522 $ 888,536 $ 732,173 $ 646,403 $ 258,031
Emp Contrib: $ 835,414 $ 584,652 $ 998,996 $ 71,126 $ 334,587 $ 867,867 $ 307,212 $ 757,662 $ 759,429 $ 459,524 $ 264,073 $ 708,457
Income/Loss: $ 3,110,940 $ 8,470,371 $ 1,958,714($ 4,438,471) $ 4,923,259 $ 9,727,560($ 87,385) $ 655,028 $ 1,190,274 $ 6,090,578($ 51,576) $ 714,445
Total Income: $ 4,501,145 $ 1,662,065 $ 1,117,501($ 180,367) $ 4,816,090 $ 4,952,679 $ 6,507,370 $ 8,121,026 $ 1,622,206 $ 477,954 $ 353,064 $ 5,071,051
Paid Benefits: $ 1,492,945 $ 824 $ 1,338,614 $ 2,380,021 $ 303,249 $ 4,400,249 $ 93,048 $ 2,392 $ 173,288 $ 49,681 $ 941,405 $ 46,703
Expenses: $ 0 $ 7 $ 67 $ 2 $ 5 $ 6 $ 72 $ 5
  Commission:($ 12,362)($ 4,311) $ 2,140 $ 5,954 $ 4,901 $ 5,058 $ 46 $ 96 $ 4,670 $ 6,472 $ 4,594 $ 2,268
Net Income: $ 3,020,562 $ 602,925 $ 6,473,540($ 6,158,115) $ 2,290,695 $ 496,351 $ 9,736,849 $ 3,522,710 $ 3,372,925 $ 6,533,168($ 618,203) $ 5,435,589
Net Assets: $ 24,440,372 $ 75,589,704 $ 85,339,302 $ 59,155,528 $ 41,671,442 $ 38,914,676 $ 66,752,918 $ 97,342,446 $ 7,268,367 $ 5,266,175 $ 5,104,656 $ 5,611,451

Participants

202120202019201820172016201520142013201220112010
Total Participants:408662287040717397458666
Active Part.:354639290888596785110257
Retired Part.:1e5229658c80832
Deceased Part.:c3fc22084b30237bad0d27cdb3cd

Insurance

No Insurance Coverage

Providers

No Providers

Features

    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.

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

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

    2E - Profit-sharing

    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.