WATKINS CONSTRUCTION CO LLC

PO BOX 570
CORSICANA, TX 75151

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 90% of peers.
  • In the last year, premium Decreased by more than 75% 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 in-line with peers, in the 51st percentile.
Average

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.

  • 28% of peers have changed carriers since last year. Those who did, saw a 5.2% decrease in premium vs those who stayed with their current provider had a 20.8% increase. This might indicate carriers are competing aggresively for similar businesses to cover.
  • Of the 28% of peers who changed carriers, This might indicate carriers are competing aggresively for similar businesses to cover.
  • Current Carrier's market share is in the 99th percentile at 28.2% of the market.
Needs Attention

OSHA

Most employers with 10 or more employees are required to maintain injury and illness records, known as the 300 log. In the event of an inspection, this information will likely be requested. Even without injury or claim, the proper documentation should be readily available on a location by location basis. These logs are critical but simple to maintain.

  • Businesses with serious and/or repeat violations should be provided with risk management practices to eliminate unnecessary risk and minimize what must exist in current processes.
Needs Attention

Business Stats

Policy History

Term Carrier Premium LCM
2023

1.380
2022

1.693
2022

1.380
2021

1.693
2021

1.380
2020

1.693
2020

1.380
2019

1.693
2019

1.380
2018

-
2018

1.380
2017

-
2017

1.380
2016

-
2015

-
2014

-

Contacts

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Vice President
(435) 039-8640
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QDWMRQJD UZBURN
Benefits Admin
(690) 517-0754
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Nlalr Egzzkuz
Owner
(680) 561-9197
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(626) 414-5285
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Industry Classification

Health Benefits

Financials

2021202020192018201720162015
BOY Assets: $ 0 $ 0 $ 570 $ 85 $ 1 $ 22
Liabilities: $ 0 $ 774 $ 0 $ 5 $ 48 $ 8
EE Contrib: $ 0 $ 5 $ 6 $ 167 $ 7
Emp Contrib: $ 0 $ 2
Income/Loss: $ 0 $ 55 $ 2 $ 38 $ 629 $ 2
Total Income: $ 0 $ 9 $ 86 $ 3 $ 355
Paid Benefits: $ 0 $ 7
Expenses: $ 0 $ 5 $ 5 $ 0 $ 72 $ 272
  Commission: $ 0 $ 8 $ 3 $ 80
Net Income: $ 0 $ 690 $ 5 $ 23 $ 36
Net Assets: $ 0 $ 5 $ 56

Participants

2021202020192018201720162015
Total Participants:460908232887639928512
Active Part.:460618287630418588778
Retired Part.:02e24ae8f38c0
Deceased Part.:5b8f43434e48b394e

Insurance

IDYGZFYJQVSQ RIUX VAHZEGPPO BIXMOUL
Renewal:09-30-2021
Covered:203
  1. Health

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 51,762
Commission20.23% $ 10,471
Fees4.36% $ 2,257
Brokers
HCO GUZLAJD
Renewal:09-30-2021
Covered:170
  1. Life Insurance
  2. Temp. Disability Insurance
  3. Long Term Disab. Ins
  4. AD&D

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 199,704
Commission16.27% $ 32,497
Fees2.41% $ 4,810
Brokers
ZBKOMEEPTLAX HITT GCQPFMSWR AOYDTEK
Renewal:09-30-2021
Covered:150
  1. Health

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 58,515
Commission21.14% $ 12,369
Fees4.4% $ 2,575
Brokers
EPMHVITATTTI LKZY PMBXLGDMB FBFJJVN
Renewal:09-30-2021
Covered:460
  1. Dental

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 158,315
Commission10.08% $ 15,952
Fees1.16% $ 1,843
Brokers
VJJ-MKCKNPJA BJFL CRMKSWJQI XWHNFPA
Renewal:09-30-2021
Covered:338
  1. Health

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 310,295
Commission10% $ 31,030
Fees0% $ 0
Brokers
MOTPSXUQ IJZGJFLT WZOF BBRALLAQX IQRLRGG
Renewal:09-30-2021
Covered:423
  1. Vision

Retention: $ 0
Claims: $ 0
Loss Ratio:
Exp Rated Premium $ 0
Non-Exp Rated Premium: $ 26,087
Commission9.9% $ 2,582
Fees0% $ 0
Brokers

Providers

No Providers

Features

    4A - Health (other than vision or dental).

    4D - Dental.

    4F - Temporary disability (accident and sickness).

    4H - Long-term disability.


OSHA

Motor Carrier