CIRCON GROUP INC

428 HIGHWAY 146 S
LA PORTE, TX 77571

Talking Points

For the Agent

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

  • A break in policy terms may indicate inconsistent work load which can result in substandard employment.
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 Higher than 100% 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 Very Good, in the 7th percentile compared to peers.
Good

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 75th percentile at 2.9% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.700
2022

1.592
2022

1.975
2022

2.016
2022

1.608
2022

-
2022

2.042
2022

1.582
2022

1.701
2022

1.603
2022
12-01-2021

1.978
2021

1.978
2021

-
2020

1.707
2020

1.564
2020

2.005
2020

-
2020

1.482
2020

-
2020

1.707
2020

1.564
2020

2.302
2020

1.543
2020

1.482
2019

2.001
2019

-
2019

-
2019

2.196
2018

-
2017

-
2016

-
2015

-
2014

-
2013

-

Contacts

(814) 153-2854
0 41

54
(001) 499-1859
12ffc

Industry Classification

Retirement Benefits

Financials

20212020
BOY Assets: $ 1,780,110 $ 2,100,331
Liabilities: $ 0
EE Contrib: $ 89,285 $ 795,666
Emp Contrib: $ 16,658 $ 88,802
Income/Loss: $ 229,509($ 5,020)
Total Income: $ 335,452 $ 539,798
Paid Benefits: $ 513,873 $ 614,618
Expenses: $ 0 $ 3
  Commission: $ 3,757 $ 1,405
Net Income:($ 182,178)($ 397,547)
Net Assets: $ 1,597,932 $ 8,892,435

Participants

20212020
Total Participants:2974
Active Part.:2276
Retired Part.:f1
Deceased Part.:7c5

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.

    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)).