ARMKO INDUSTRIES INC

1320 SPINKS RD
FLOWER MOUND, TX 75028

Talking Points

For the Agent

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

  • Increasing LCM and decreasing market share may indicate carrier is tightening underwriting guidelines and/or has written higher risk accounts that they are less willing to fight for.
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 in-line with peers, in the 28th percentile.
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 95% 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.

  • 10% of peers have changed carriers since last year.
  • Current Carrier's market share is in the 1st percentile at 0.6% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.465
2023

2.752
2022

2.465
2022

2.460
2021

2.398
2021

2.318
2020

2.398
2019

2.273
2018

2.186
2017

-
2016

-
2015

-

Contacts

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CFO
(143) 295-8120
RXFKIKSPMA@lazmt.aoe

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Benefits Admin
(490) 079-4327
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Benefits Admin
(934) 315-5257
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Owner
(314) 213-8232
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 7,799,133 $ 930,236 $ 945,639 $ 680,912 $ 8,825,035 $ 9,195,864 $ 2,706,907 $ 4,493,421 $ 6,779,455 $ 2,395,899 $ 6,667,746 $ 3,364,362
Liabilities: $ 0 $ 37 $ 79 $ 9 $ 5
EE Contrib: $ 350,131 $ 221,652 $ 116,926 $ 699,653 $ 658,140 $ 875,279 $ 879,728 $ 269,418 $ 968,212 $ 404,140 $ 282,480 $ 57,333
Emp Contrib: $ 180,018 $ 658,114 $ 635,253 $ 607,017 $ 164,952 $ 908,108 $ 154,319 $ 549,751 $ 645,272 $ 961,818 $ 88,226 $ 16,252
Income/Loss: $ 1,280,657 $ 227,025 $ 6,193,364($ 879,332) $ 958,099 $ 485,753($ 18,664) $ 428,216 $ 392,292 $ 541,737($ 88,409) $ 198,234
Total Income: $ 1,810,806 $ 9,324,653 $ 2,928,440 $ 6,325 $ 5,444,080 $ 596,952 $ 50,514 $ 408,284 $ 65,650 $ 593,872 $ 607,814 $ 769,923
Paid Benefits: $ 310,698 $ 79,859 $ 79,114 $ 35,282 $ 1 $ 33,711 $ 187,577 $ 986,530 $ 996,405 $ 660,187 $ 936,471 $ 269,004
Expenses: $ 0 $ 4 $ 6 $ 64 $ 5
  Commission: $ 533 $ 91 $ 245 $ 7 $ 2 $ 97 $ 52 $ 1
Net Income: $ 1,499,575 $ 5,877,041 $ 418,116($ 2,179) $ 281,594 $ 156 $ 825,920 $ 871,827 $ 150,770 $ 541,812 $ 6,745 $ 365,075
Net Assets: $ 9,298,708 $ 2,858,041 $ 6,797,170 $ 7,900,605 $ 6,992,668 $ 9,797,777 $ 3,935,734 $ 2,939,543 $ 9,476,561 $ 8,918,706 $ 1,946,727 $ 2,213,445

Participants

202120202019201820172016201520142013201220112010
Total Participants:360819015958010715691997
Active Part.:3257696693212754f0844
Retired Part.:5fd d8d5b bdb1fb5f5d45
Deceased Part.:164e 0f685ef4b4316ae6e04e

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.