Assisting one of the first U.S. reinsurers entering the Argentinian WC market as it was being privatized. The entailed analyzing the loss experience of the prior WC system to determine where the profitable business would in the new WC system, and developing a reinsurance treaty structure that appropriately managed the risk in the new system.
Provided reserve evaluation and expert testimony related to the Florida Self-Insurance Fund, a WC self-insurance fund. We provided assistance to FESA and to attorneys representing FESA in many areas including evaluation of reserves, legal actions against reinsurers, and professional testimony regarding the appropriateness of the amounts assessed members both in the aggregate and individually by member.
Peer reviewed an actuarial report produced for the California Insurance Guarantee Association as part of an audit conducted by a national audit firm. CIGA had experienced a number of insolvencies from large WC member insurers, which greatly increased the necessary payments.
Professional testimony regarding WC premium tax related to the transfer of liabilities from a self-insurance fund to an insurance company.
Assistance to attorneys and testimony in a dispute involving a reinsurance broker and a reinsurer of WC business.
Professional testimony regarding valuation of a book of business and WC reserves.
Reviewing the NCCI filings for Alabama, Idaho, Illinois, Kentucky, Maryland, Mississippi, South Carolina, South Dakota, and Virginia. These reviews typically address, among other things, statewide loss cost changes, changes by industry group, and the general WC insurance environment in that state. Our recent reviews of NCCI filings have addressed the NCCI's revised class rate making methodology.
Reviewing rate filings submitted by the Injured Workers Insurance Fund (IWIF) of Maryland for the Maryland Insurance Administration. These reviews have included consideration of rates by class and experience rating plan.
Reviewing North Carolina Rate Bureau filings for the North Carolina Department of Insurance.
Reviewing the Alabama WC residual market fund and the experience rating system for the Wyoming WC fund.
Participating in a multistate examination of AIG related to reporting WC premiums, which are the basis of assessments funding the National Workers' Compensation Reinsurance Pool.
Performing a study of the legislative changes related to the changes in eligibility and the closure of new claims, its impact on loss costs and rates, for the South Carolina Second Injury Fund.
Provided an annual analysis of estimated future cost of compensation, medical benefits and loss adjustment expenses due for claims managed by the Michigan Self-Insurers' Security Fund, a fund that is responsible for the payment of WC benefits due to disabled employees that are due from a private self-insured employer who becomes insolvent and is unable to continue honoring their WC obligations.
Reviewing all loss cost multiplier (LCM) filings submitted to the South Carolina Department of Insurance and the Mississippi Department of Insurance.
Reserve analysis related to a WC self-insured fund in liquidation. This project included professional testimony and an analysis of uncollectible amounts in assessment calculation.
Learn more about our professional employer organization (PEO) experience.