REPUBLIC COMPOSITE STUD WELDING
20715 MAY SHOWERS CIR
HOUSTON, TX 77095
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.
- 保险费是内联和同事、the 30th percentile.
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 81% of peers.
- Shopping around for a carrier that would provide a more competative tier would make sense.
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.
- 8% of peers have changed carriers since last year. Those who did, saw a 37.9% decrease in premium vs those who stayed with their current provider had a 0.6% increase, roughly 58x those who stayed with their current provider.
- Current Carrier's market share is in the 99th percentile at 64.8% of the market.
Business Stats
Policy History
Term | Carrier | Premium | LCM | |
---|---|---|---|---|
2022 |
1.693 | |||
2022 |
1.950 | |||
2022 |
1.585 | |||
2022 |
1.707 | |||
2022 |
1.950 | |||
2022 |
1.110 | |||
2022 |
1.407 | |||
2021 |
1.693 | |||
2021 |
1.960 | |||
2021 |
1.751 | |||
2021 |
1.707 | |||
2021 |
1.707 | |||
2021 |
1.932 | |||
2021 |
1.490 | |||
2021 |
1.110 | |||
2020 |
1.693 | |||
2020 |
1.960 | |||
2020 |
1.736 | |||
2020 |
1.707 | |||
2020 |
1.932 | |||
2020 |
1.858 | |||
2020 |
1.235 | |||
2020 |
1.932 | |||
2019 |
1.693 | |||
2019 |
1.960 | |||
2019 |
1.152 | |||
2019 |
1.645 | |||
2019 |
1.645 | |||
2019 |
1.153 | |||
2019 |
1.736 | |||
2019 |
1.520 | |||
2019 |
1.235 | |||
2019 |
1.520 | |||
2019 |
1.520 | |||
2019 |
1.858 | |||
2019 |
1.177 | |||
2018 |
1.569 | |||
2018 |
1.177 | |||
2018 |
1.960 | |||
2018 |
1.520 | |||
2018 |
1.520 | |||
2018 |
1.235 | |||
2018 |
1.678 | |||
2018 |
1.520 | |||
2018 |
- | |||
2018 |
1.153 | |||
2018 |
1.520 | |||
2017 |
2.575 | |||
2017 |
1.919 | |||
2017 |
- | |||
2017 |
1.200 | |||
2016 |
1.398 | |||
2016 |
2.575 | |||
2016 |
2.019 | |||
2016 |
- | |||
2016 |
- | |||
2016 |
1.398 | |||
2016 |
1.200 |
Contacts
Industry Classification
Welding or Cutting NOC & Drivers
Commercial and Institutional Building Construction
Special Trade Contractors, Nec
Cleaning--Outside Surfaces of Buildings & Other Exterior Surfaces
94276
Fence Erection Contractors
94404
Fireproofing--Structures
95487
Greenhouse Erection
95625
Handyperson
95630
Hazardous Material Contractors