November 8, 2012 - Actuarial Committee Update

Posted Date: November 8, 2012
    

Industry InformationNCCI Actuarial Committee

The Actuarial Committee met on Thursday, November 8, 2012. The major topics covered at this meeting included:

  • Loss Development (ACT-12-06)
    NCCI experience filings utilize a variety of averages in estimating loss development patterns for paid and paid plus case losses from 1st to 19th report. At the meeting, staff presented observations from its recent study on the predictability of various link ratio averaging techniques.
  • Trend (ACT-12-07)
    Staff presented a framework for retrospectively testing alternative trend methods.
  • Obesity and the Cost of Workers Compensation Claims (ACT-12-08)
    Staff presented evidence that when obesity is treated under the workers compensation claim, there is a correlation with the duration of indemnity benefits.
  • Status of Rate/Loss Cost Filings (ACT-12-09)
    Staff provided a status of filing activity for the voluntary and assigned risk markets based on data valued as of 12/31/2011. Noteworthy items for some states were discussed as well as a comparison of filed/approved rate/loss cost level changes for NCCI states versus countrywide.
  • Update to NCCI's Coal Mine Disease Model (ACT-12-10)
    Staff presented research on the calculation of the disease portion of coal mine class code rates. Staff also presented changes to the methodology as a result of this research.
  • Legislative Analysis (ACT-12-11)
    Staff presented a summary of legislative activity in 2012, highlighting key themes and some of the more significant changes that were proposed and enacted.
  • Underwriting Committee (ACT-12-12)
    Staff provided a report detailing the Underwriting Committee's inaugural meeting on October 17 and the 2013 Work Plan, which was established at that meeting.

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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November 08, 2012 Agenda (PDF)

  • Trend (ACT-12-07)
  • Obesity and the Cost of Workers Compensation Claims (ACT-12-08)
  • Legislative Analysis (ACT-12-11)

November 08, 2012 Minutes (PDF)

  • Loss Development (ACT-12-06)
  • Obesity and the Cost of Workers Compensation Claims (ACT-12-08)
  • Status of Rate/Loss Cost Filings (ACT-12-09)
  • Update to NCCI's Coal Mine Disease Model (ACT-12-10)
  • Underwriting Committee (ACT-12-12)