Workers’ Compensation Actuarial Analysis Services

The Vendor is required to provide to analyze the City’s insurance and contracts risk exposure and other issues including management of employee disability, third-party claims, and safety and loss prevention programs.
- The City’s employee disability program claims are administered by a Third-Party Administrator.
- Provide an actuarial analysis of the City’s self-insured workers’ compensation claim liabilities, inclusive of cost projections of existing liabilities, and estimate of a reasonable range of reserve balances required as of the fiscal year end to cover unpaid workers’ compensation claim liabilities, including incurred but not reported claims (IBNR) from the earliest available historical period through June 30, 2026.
- Unpaid claims estimates (discounted and undiscounted) utilizing three discount rates based on current expected rate trends at three different levels of confidence (low, medium and high).
- Range of reserve balances required as of the fiscal year end to cover unpaid workers’ compensation liabilities.
- Report presenting actuarial analysis and opinion inclusive of supporting tables and data, including but not limited to:
•    Case reserves
•    Range of Reserves
•    Change in Ultimate Losses
•    Calculation of Discount Factors
•    Paid and incurred Developments
•    Paid and Incurred Incremental Developments