FLOW LINE CONSTRUCTION INC

PO BOX 600881
DALLAS, TX 75360

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 90% of peers.
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.

  • 11% of peers have changed carriers since last year. Those who did, saw a 22.6% decrease in premium vs those who stayed with their current provider had a 2.9% increase, roughly 8x those who stayed with their current provider.
  • Current Carrier's market share is in the 99th percentile at 53.2% of the market.
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
10-01-2014

-

Contacts

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Office Manager
24
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Benefits Admin
(573) 085-4413
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President
(440) 886-5665
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016
BOY Assets: $ 716,004 $ 796,245 $ 60,938 $ 884,372 $ 42,756 $ 0
Liabilities: $ 0 $ 7 $ 38 $ 1
EE Contrib: $ 46,261 $ 335,026 $ 876,513 $ 17,256 $ 22,340 $ 19,981
Emp Contrib: $ 36,140 $ 20,646 $ 90,709 $ 92,022 $ 42,616 $ 4,483
Income/Loss: $ 108,163 $ 799,982 $ 48,038($ 832) $ 11,033 $ 4,294
Total Income: $ 190,564 $ 730,008 $ 732,603 $ 34,368 $ 25,571 $ 22,421
Paid Benefits: $ 3 $ 1 $ 8 $ 8
Expenses: $ 0 $ 8 $ 37 $ 2 $ 8 $ 82
  Commission: $ 9,943 $ 4,138 $ 1,882 $ 3,695 $ 1
Net Income: $ 180,618 $ 807,714 $ 533,055 $ 64,016 $ 61,111 $ 48,139
Net Assets: $ 896,622 $ 921,402 $ 957,050 $ 666,712 $ 21,854 $ 46,745

Participants

202120202019201820172016
Total Participants:43506666632
Active Part.:42975021718
Retired Part.:990b46e6ad
Deceased Part.:f495181e8

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.

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

Motor Carrier