TEXOMA INNOVATIVE INC
1827 S ARMSTRONG AVE
DENISON, TX 75020
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 isHigher比87%的同行。
- In the last year, premiumDecreasedby 4%. While peersIncreased平均3%。
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 isHigherthan 65% of peers.
- Shopping around for a carrier that would provide a more competative tier would make sense.
市场竞争力
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.
- 4% of peers have changed carriers since last year. Those who did, saw a 13.5% decrease in premium vs those who stayed with their current provider had a 3.8% increase, roughly 4x those who stayed with their current provider.
- Current Carrier's market share is in the 95th percentile at 15.7% of the market.
Business Stats
Policy History
Term | Carrier | Premium | LCM | |
---|---|---|---|---|
2023 |
1.693 | |||
2022 |
1.693 | |||
2021 |
1.693 | |||
2020 |
1.693 |
接触s
Industry Classification
Jewelry Mfg.
Other Nonferrous Metal Foundries (except Die-Casting)
Copper Foundries
Buttons or Fasteners Mfg.
51889
Clock Mfg.
53425
Foundries
55802
Jewelry Mfg.
56910
Metal Foil Mfg.
56912
Metal Goods Mfg.--Stamping--Not Signs