Workers Compensation and General Liability Actuarial Study Services

The Vendor is required to provide to report and account for all liabilities on an annual basis by fiscal year which runs from October 1st to September 30th. Self-insured workers’ compensation and liability claims reserves and allocated loss adjustment expenses (ALAE) must be reviewed for adequacy in accordance with board regulations.
- The consultant shall provide an estimate of reserve requirements for claims that have been incurred but not reported (IBNR) prior to October 1, for the previous fiscal year, and as of March 31 of the following year.
- Over the next four years changes in employee counts and annual payroll will change based upon service needs. The contractor shall analyze the potential impact this change will have on claim counts, loss costs including loss expense and total incurred losses by fiscal year.