CORE RECRUITMENT LLC

23603 W FERNHURST DR, STE 2101
KATY, TX 77494

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 91% 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 70% 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. Those who did, saw a 11.6% decrease in premium vs those who stayed with their current provider had a 2.7% decrease, roughly 4x those who stayed with their current provider.
  • Current Carrier's market share is in the 75th percentile at 0.5% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2022

1.937
2021

1.937

Contacts

Industry Classification

Retirement Benefits

Financials

20212020201920182016201520142013
BOY Assets: $ 391,879 $ 325,709 $ 256,469 $ 934,437 $ 448,242 $ 41,906 $ 15,490 $ 8
Liabilities: $ 0 $ 2 $ 2 $ 7 $ 8 $ 3 $ 8
EE Contrib: $ 143,927 $ 98,203 $ 77,409 $ 4,429 $ 8,753 $ 446,895 $ 8,213 $ 11,596
Emp Contrib: $ 0 $ 287 $ 0 $ 7 $ 81 $ 4 $ 73,860 $ 7
Income/Loss: $ 65,364 $ 10,914 $ 53,672($ 2,187) $ 74,909($ 26,683) $ 149 $ 2,680
Total Income: $ 209,291 $ 551,006 $ 12,251($ 49,520) $ 71,565 $ 227,472 $ 77,328 $ 32,937
Paid Benefits: $ 43,814 $ 4,153 $ 134 $ 46,796 $ 31,087 $ 8 $ 0
Expenses: $ 0 $ 2 $ 2 $ 2 $ 47
  Commission: $ 1,935 $ 3,664 $ 3,701 $ 6,462 $ 87 $ 734 $ 68 $ 40
Net Income: $ 163,542 $ 44,727 $ 97,225($ 77,482)($ 512) $ 528,743 $ 97,594 $ 62,450
Net Assets: $ 555,421 $ 450,335 $ 822,965 $ 677,543 $ 92,304 $ 422,782 $ 78,414 $ 65,703

Participants

20212020201920182016201520142013
Total Participants:642348194544008
Active Part.:56276284824e
Retired Part.:3071bc 6301b0 4
Deceased Part.:6371b60a7366b5f0

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.

    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.