August 14, 2013 - Actuarial Committee Update

Posted Date: August 14, 2013
    

Industry InformationNCCI Actuarial Committee

The Actuarial Committee met on Wednesday, August 14, 2013. The major topics covered at this meeting included:

  • Legislative Analysis (ACT-13-07)
    Staff presented a summary of legislative activity in 2013, highlighting some of the more significant proposed and enacted changes.
  • NCCI Experience Rating Plan Methodology and Performance (ACT-13-08)
    Staff presented the methodology and results of its most recent annual analysis of the countrywide experience rating plan off-balance.
  • NCCI-Filed Expense Provisions–Methodology and Results (ACT-13-09)
    Staff provided the methodology and results of its annual analysis of the expense constant, production and general expense, and loss adjustment expense provisions in states where NCCI files manual rates.
  • Industry Results–Frequency and Severity Update (ACT-13-10)
    Staff presented its analysis of frequency and severity based on data valued as of 12/31/2012 for the twenty available NCCI states combined.
  • Workers Compensation Temporary Total Disability Benefit Duration–2013 Update (ACT-13-12)
    NCCI recently completed an update to the temporary total disability indemnity benefit duration study. At the meeting, staff presented the countrywide analysis with an additional year of experience, and analyses of the influence of waiting period and gender on duration.

Please refer to the minutes of the meeting for any pertinent discussion on each topic. The presentation for each of the listed topics is contained in either the agenda or the minutes for the meeting as indicated below.

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August 14, 2013 Agenda (PDF)

  • NCCI Experience Rating Plan Methodology and Performance (ACT-13-08)
  • Assigned Risk Ratemaking (ACT-13-11)
  • Workers Compensation Temporary Total Disability Benefit Duration – 2013 Update (ACT-13-12)

August 14, 2013 Minutes (PDF)

  • Legislative Analysis (ACT-13-07)
  • NCCI-Filed Expense Provisions – Methodology and Results (ACT-13-09)
  • Industry Results (ACT-13-10)