The vendor required to provide workers’ compensation and third-party liability actuarial services for the end-to-end management of workers’ compensation claims, including intake, investigation, benefit administration, medical case management, vocational rehabilitation coordination and return to work efforts.
- Various electronic formats for all data requests, including excel and csv and pdfs, are used.
- Workers’ compensation data is provided in a text file format.
1. Third-party liability analyses
• Projections of ultimate losses and outstanding incurred liabilities as of December 31 each actuary report year.
• Ten-year projections of incurred claims (including incurred but not reported), funding requirements, and claims expenditures.
• An estimate of projection adjustments (as percentage of changes from prior year).
• County self-insures the first $10 million of each loss under the general and auto liability programs.
• The liability analysis shall contain a separate projection of losses up to the self-insured retention levels in addition to ultimate losses.
• Fluctuation analysis and trend discussion.
2. Workers’ compensation analyses
• Liabilities for unpaid claims as of December 31 of each year.
• Five-year projection of paid claims (loss payouts) and estimated required reserves as of December 31.
• Estimated ultimate losses based on both reported and paid annual losses.
• County self-insures the first $2 million of each loss under the workers’ compensation program.
• The analysis shall contain a separate projection of losses up to the self-insured retention levels in addition to ultimate losses.
3. Ad hoc actuarial consulting services
• Mid-year updates to workers’ compensation or third-party liability projections;
• Scenario-based analyses using varying actuarial assumptions to support risk management and budget decisions;
• Development of risk-based hourly rates by department or position to support internal agency contributions to the workers’ compensation fund; and
• More frequent actuarial reports or updates in response to emerging business needs or significant claims events.
- Budget: 2025 is approximately $62 million and includes $36 million
- Contract Period/Term: 5 years
