Workers’ Compensation Actuarial Services and Reporting Services

The Vendor is required to provide to produce an annual loss reserve amount for the state’s workers compensation fund.
- The loss reserve must be calculated by department, and the annual actuarial report must contain the following information:
• A scope of the review including any relevant assumptions or limitations applied in calculating the loss reserve;
• A range of loss and allocated loss adjustment expense reserves based on current data for the self-insured workers’ compensation program by department and in total;
• Comparisons to prior year loss reserves by department and in total; and
• An actuarial report which includes findings and recommendations with specific emphasis on departmental detail containing a summary of data and methodologies used in performing the reserve analysis.