Seneca Resources Company, LLC

1201 Louisiana St, Ste 2600
Houston, TX 77002

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 Very Good, in the 15th percentile compared to peers.
  • In the last year, premium Decreased by 1%. While peers Increased an average of 10%.
Average

Experience Mod Rating

Mod is an indication of how risky a company is to insure. It is based on a company's claim history.

  • Experience Mod is very good. It is in the 2nd percentile compared to peers.
  • There was a recent mod increase.
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 in-line with peers, in the 46th percentile.
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.

  • 18% of peers have changed carriers since last year. Those who did, saw a 26.8% decrease in premium vs those who stayed with their current provider had a 16.8% increase.
  • Current Carrier's market share is in the 95th percentile at 15.6% of the market.
Good

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.707
2023

2.592
2022

1.707
2022

2.592
2021

1.707
2021

2.302
2020

1.645
2020

2.005
2019

1.583
2019

2.005
2018

1.583
2018

2.005
2017

1.922
2017

1.855
2016

1.922
2016

1.855
2015

1.855
2015

-
2014

-
2013

-
2012
05-01-2012

-
2011

-
2010

-
2009

-

Contacts

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Reservoir Engineer
(369) 198-2950
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Production Manager
(768) 727-5975
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President
(621) 555-0839
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Benefits Admin
(257) 913-0513
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Executive Assistant to CEO
(362) 117-7479
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Senior Vice President
(202) 724-6693
aviltw@vnorqeogon.lcq

Industry Classification

Health Benefits

Financials

2021202020192018201720162015201420132012201120102008200720062005200420032002200120001999
BOY Assets: $ 0 $ 993 $ 4 $ 4 $ 8 $ 5 $ 3 $ 0 $ 41 $ 3 $ 8 $ 24 $ 2 $ 915 $ 2 $ 4
Liabilities: $ 0 $ 9 $ 9 $ 20 $ 66 $ 6 $ 2 $ 9 $ 9 $ 9
EE Contrib: $ 0 $ 5 $ 539 $ 1 $ 4 $ 15 $ 3 $ 3 $ 393 $ 55 $ 333 $ 39 $ 35 $ 7
Emp Contrib: $ 0 $ 4 $ 8 $ 93 $ 14 $ 4 $ 7 $ 8 $ 4 $ 36 $ 90 $ 97 $ 7 $ 7 $ 98 $ 13
Income/Loss: $ 0 $ 7 $ 62 $ 7 $ 26 $ 36 $ 23 $ 2 $ 8 $ 2 $ 8 $ 722 $ 7 $ 7 $ 6
Total Income: $ 0 $ 4 $ 3 $ 28 $ 1 $ 28 $ 283 $ 8 $ 32 $ 2 $ 384 $ 8 $ 3 $ 4
Paid Benefits: $ 0 $ 418 $ 4 $ 3 $ 22 $ 3 $ 2 $ 34 $ 76 $ 1 $ 4 $ 5
Expenses: $ 0 $ 3 $ 2 $ 9,000,000 $ 2 $ 0 $ 0 $ 24 $ 6 $ 9 $ 6 $ 690 $ 19
  Commission: $ 0 $ 989 $ 0 $ 621 $ 9 $ 8 $ 9 $ 980 $ 1 $ 88 $ 98 $ 9
Net Income: $ 0 $ 25 $ 3 $ 8 $ 4 $ 4 $ 1 $ 4 $ 9 $ 4 $ 9 $ 2 $ 28 $ 44 $ 1 $ 7
Net Assets: $ 0 $ 5 $ 9 $ 5 $ 3 $ 0 $ 5 $ 5 $ 31 $ 3 $ 5 $ 1 $ 3 $ 519

Participants

2021202020192018201720162015201420132012201120102008200720062005200420032002200120001999
Total Participants:298707505746036692008041000771445357390240839791638457655695984210
Active Part.:298602530015542057602716432186139543114727041396704879911410919478
Retired Part.:74e71570778dce58c8c450 2be5d7123d56435
Deceased Part.:c31449c428315c14702a3842c1124244cc3a0e a23a22 10

Insurance

No Insurance Coverage

Providers

No Providers

Features

    4Q - Other.