NORTH AMERICAN INTERPIPE INC

1800 WEST LOOP S, STE 1350
HOUSTON, TX 77027

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 26th percentile.
  • In the last year, premium Decreased by 16%. While peers Increased an average of 3%.
Good

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 58% 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.

  • 11% of peers have changed carriers since last year. Those who did, saw a 11.1% decrease in premium vs those who stayed with their current provider had a 4.8% increase, roughly 2x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 34.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.693
2022

1.693
2021

1.693
2020

1.693
2019

-
2018

-
2017

-
2016

-
2015

-

Contacts

Ispeja Thkf
President
(149) 796-4051
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Benefits Admin
(577) 122-7573
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Benefits Admin
(205) 559-7009
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Benefits Admin
(887) 876-8465
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Benefits Admin
(593) 432-5927
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CFO North American Interpipe Inc
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Industry Classification

Retirement Benefits

Financials

2021202020192018201720162015201420132012201120102006
BOY Assets: $ 1,061,941 $ 954,137 $ 367,136 $ 325,860 $ 725,741 $ 450,443 $ 569,331 $ 523,167 $ 712,338 $ 399,327 $ 98,337 $ 354,534
Liabilities: $ 0 $ 6 $ 4 $ 909 $ 6 $ 69 $ 0 $ 2 $ 9 $ 6 $ 1
EE Contrib: $ 134,100 $ 239,714 $ 563,637 $ 882,805 $ 47,771 $ 16,547 $ 68,266 $ 649,050 $ 222,513 $ 89,016 $ 98,754 $ 37,579 $ 9,733
Emp Contrib: $ 104,866 $ 795,437 $ 915,871 $ 77,262 $ 66,367 $ 20,474 $ 5,926 $ 85,301 $ 39,845 $ 16,149 $ 16,010 $ 6 $ 3
Income/Loss: $ 188,002 $ 249,731 $ 862,659($ 93,013) $ 63,687 $ 30,987($ 28,828) $ 46,692 $ 3,914 $ 4,361($ 7,384) $ 7,736 $ 378
Total Income: $ 426,968 $ 121,031 $ 886,982 $ 259,947 $ 208,211 $ 740,015 $ 134,949 $ 486,059 $ 868,130 $ 482,142 $ 69,060 $ 13,875 $ 2,180
Paid Benefits: $ 25,054 $ 933,415 $ 902,632 $ 52,629 $ 84,018 $ 94,800 $ 786,910 $ 526,043 $ 71,449 $ 21,054 $ 1 $ 42,222 $ 29
Expenses: $ 0 $ 9 $ 0 $ 5,833 $ 43 $ 468 $ 4
  Commission: $ 345 $ 225 $ 968 $ 6,056 $ 5,239 $ 3,821 $ 73 $ 884 $ 88 $ 201 $ 647 $ 20
Net Income: $ 401,569 $ 999,719 $ 52,742 $ 49,475 $ 363,114 $ 70,503($ 94,777)($ 43,128) $ 288,994 $ 886,392 $ 5,546($ 71,574) $ 413
Net Assets: $ 1,463,510 $ 2,700,502 $ 129,820 $ 849,362 $ 966,700 $ 969,110 $ 534,004 $ 384,998 $ 308,352 $ 867,184 $ 218,398 $ 50,271 $ 986

Participants

2021202020192018201720162015201420132012201120102006
Total Participants:16965197869970530729354
Active Part.:138174350426163d971328
Retired Part.:3e75d5db77e899773e43d7db94d618
Deceased Part.:c 84243d8cf75b7df343d16

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.