PERFECTION WHOLESALE SUPPLY CO LP

6742 N ELDRIDGE PKWY, STE A
HOUSTON, TX 77041

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 Higher than 97% 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 100% 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.

  • 16% of peers have changed carriers since last year. Those who did, saw a 12.1% decrease in premium vs those who stayed with their current provider had a 17.1% increase.
  • Current Carrier's market share is in the 1st percentile at 1.7% of the market.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

2.850
2022

2.850
2022

1.490
2022

1.490
2021

1.490
2020

2.850
2020

1.152
2020

1.490
2019

2.850
2019

1.152
2019

1.520
2019

1.900
2018

2.850
2018

1.900
2017

2.850
2016

2.850
2015

2.850

Contacts

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Owner
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Benefits Admin
(211) 153-3498
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President
(894) 318-7995
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Industry Classification

Retirement Benefits

Financials

202120202019201820172016201520142013201220112010
BOY Assets: $ 8,192,905 $ 5,080,108 $ 4,405,983 $ 4,971,498 $ 1,651,747 $ 7,884,298 $ 4,608,236 $ 8,164,358 $ 7,447,106 $ 769,475 $ 2,052,752 $ 3,265,913
Liabilities: $ 0 $ 35 $ 357 $ 4 $ 7 $ 7 $ 1
EE Contrib: $ 438,890 $ 110,690 $ 95,472 $ 643,144 $ 988,316 $ 379,011 $ 897,439 $ 32,050 $ 121,784 $ 359,961 $ 422,330 $ 284,241
Emp Contrib: $ 100,000 $ 306,609 $ 55,784 $ 769,586 $ 27,571 $ 531,928 $ 8,776 $ 3 $ 6 $ 1 $ 96
Income/Loss: $ 1,139,598 $ 1,609,889 $ 2,114,871($ 611,482) $ 932,309 $ 595,324($ 91,974) $ 166,022 $ 311,169 $ 662,122($ 23,998) $ 536,158
Total Income: $ 1,678,488 $ 6,783,908 $ 529,178 $ 33,843 $ 2,124,042 $ 219,484 $ 270,421 $ 129,718 $ 767,449 $ 111,231 $ 25,587 $ 304,479
Paid Benefits: $ 275,344 $ 392,031 $ 919,679 $ 447,187 $ 298,905 $ 419,190 $ 871,715 $ 4,467 $ 135,966 $ 96,681 $ 421,976 $ 15,478
Expenses: $ 0 $ 8 $ 8 $ 38 $ 28 $ 47 $ 47
  Commission: $ 4,602 $ 9,428 $ 4,977 $ 5,745 $ 5,060 $ 1,744 $ 1,248 $ 612 $ 4,880 $ 3,530 $ 8,273 $ 5,990
Net Income: $ 1,398,542 $ 495,909 $ 4,847,287($ 77,548) $ 989,354 $ 468,032 $ 94,231 $ 401,887 $ 504,952 $ 111,780($ 135,636) $ 905,678
Net Assets: $ 9,591,447 $ 7,124,402 $ 3,581,689 $ 44,620 $ 1,411,363 $ 1,299,621 $ 6,724,886 $ 9,304,782 $ 5,154,372 $ 7,918,575 $ 3,476,581 $ 2,960,345

Participants

202120202019201820172016201520142013201220112010
Total Participants:1069030254743345241686281
Active Part.:94375676998282908710198c
Retired Part.:6c4a574ab475aca53acc
Deceased Part.:b82d9a8c882b 0b576b

Insurance

No Insurance Coverage

Providers

No Providers

Features

    2E - Profit-sharing

    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.

    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.

    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.

    2A - Age/Service Weighted or new comparability or similar plan - Age/Service Weighted Plan: Allocations are based on age, service, or age and service. New comparability or similar plan: Allocations are based on participant classifications and a classification(s) consists entirely or predominantly of highly compensated employees; or the plan provides an additional allocation rate on compensation above a specified threshold, and the theshold or additional rate exceeds the maximum threshold or rate allowed under the permitted disparity rules of section 401(l).

    2T - Total or partial participant-directed account plan - plan uses default investment account for participants who fail to direct assets in their account.