HSI SERVICES INC

20581 FM 362 RD
WALLER, TX 77484

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 47th 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 74% 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.

  • 3% of peers have changed carriers since last year. Those who did, saw a 76% decrease in premium vs those who stayed with their current provider had a 8.5% increase, roughly 9x those who stayed with their current provider.
  • Current Carrier's market share is in the 95th percentile at 57.1% 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

Ersjci Wvieeg
Owner
(760) 750-9213
akptda@abu-gmsefse.fhc

Pbtufl Sotkri
President
(244) 041-0471
aef71

BKLRY TDBFOR
Benefits Admin
(645) 144-9979
dd60

Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 1,489,243 $ 4,997,421 $ 110,364 $ 458,708 $ 692,091 $ 399,369 $ 702,486 $ 660,234 $ 741,747 $ 450,079 $ 440,306 $ 476,529
Liabilities: $ 0 $ 3 $ 6 $ 6 $ 5 $ 6 $ 5 $ 116
EE Contrib: $ 37,875 $ 11,896 $ 25,615 $ 69,113 $ 51,797 $ 6,295 $ 84,849 $ 1,683 $ 25,450 $ 72,445 $ 33,530 $ 49,781
Emp Contrib: $ 22,977 $ 48,949 $ 6,107 $ 27,172 $ 86,632 $ 94,979 $ 15,627 $ 21,639 $ 48,706 $ 32,406 $ 94,933 $ 7,310
Income/Loss: $ 158,817 $ 821,645 $ 83,159($ 10,480) $ 80,753 $ 69,345($ 7,130) $ 17,085 $ 34,609 $ 753($ 59,623) $ 62,834
Total Income: $ 219,669 $ 858,721 $ 619,912($ 5,782) $ 856,580 $ 582,376 $ 89,853 $ 54,622 $ 118,392 $ 4,546 $ 79,460 $ 61,245
Paid Benefits: $ 392,998 $ 1,866 $ 866 $ 30 $ 1,865 $ 687 $ 531 $ 37,735 $ 53,990 $ 2,192
Expenses: $ 0 $ 8 $ 54 $ 4 $ 9 $ 81 $ 8 $ 156 $ 54 $ 8 $ 819
  Commission:($ 2,673) $ 708 $ 596 $ 671 $ 295 $ 206 $ 885 $ 67 $ 9,046 $ 58 $ 45 $ 80
Net Income:($ 170,656) $ 442,016 $ 903,643($ 146) $ 572,284 $ 701,146 $ 97,644 $ 92,539 $ 496,235 $ 132,313($ 850,437) $ 338,846
Net Assets: $ 1,318,587 $ 1,791,282 $ 8,700,028 $ 422,924 $ 507,416 $ 252,379 $ 750,603 $ 991,198 $ 857,885 $ 801,850 $ 963,724 $ 958,128

Participants

202120202019201820172016201520142013201220112010
Total Participants:121580513207680055
Active Part.:1018801874386e9ec9022
Retired Part.:79fd48d 95fa9299fff4
Deceased Part.:3a5c1065f4f3263c7631f57

Insurance

No Insurance Coverage

Providers

No Providers

Features

    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.

    2E - Profit-sharing

Motor Carrier