NCCI is excited to preview the upcoming changes for the 2021 Financial Call reporting season. Get ready, get set, and go to the following highlights:
Financial Data Collection (FDC) Tool—New
FDC tool will be available for the 2021 season for data valued as of December 31, 2020.
- The latest permissible loss ratio (PLR) for Illinois and target cost ratio (TCR) factor for Indiana will be displayed in the Active Deviation screen for your reference when updating your deviations
- The data generated from the Export feature will be formatted only in the current layout for Ratemaking Calls and Call 19
- The wait time for submitting the compliance form via DocuSign after it has been signed will be significantly reduced to improve efficiency
Call 19—Accident Year Countrywide Loss Adjustment Expense—Updated
Questions—Streamlined to three questions by category. Refer to Circular CALLS-2020-01 for updated questions.
Financial Data Collection tool—Enhanced with revised questions and display of Adjusting and Other Expenses (AOE) data over the latest five calendar years.
Electronic Import Template—Updated with revised questions.
Updated-Due Date—Moved to April 15 from May 1.
Calls 31—Large Loss and Catastrophe and 33—Virginia Coal Mine Large Loss and Catastrophe
Extraordinary Loss Event (ELE) Catastrophe Number 12 Claims—Added to Calls 31 and 33
Claim Number Length—Limited to 12 characters for policies effective January 1, 2020, and later
Electronic Import Template
Previous versions have been eliminated and only the current versions will be accepted for Calls valued as of December 31, 2020 and subsequent.
Critical Edits—Any call will be rejected with one or more critical edits
New Edits—New edits have been added for changes to Call 19 questions, limitation to claim number length, and open claims reported with no case reserves
- New edits and critical edits are displayed in the Financial Call Edit Matrix
Data Quality Guidebook—Any
ADQIP changes will be released in the next update to the
Data Quality Guidebook (Third Quarter 2020)
Financial Call Reporting Guidebook—Updates to this guidebook, along with the Financial Call Edit Matrix, will be released in Fourth Quarter 2020
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