Calculating a benchmark loss projection for workers compensation requires two key pieces of data:  loss costs and payroll, each broken down by state and class code.  While payroll amounts are typically available to companies from internal sources, loss cost information must be gathered externally. Currently, thirty-four states around the US engage NCCI as their advisory […]

Many companies have a liability associated with retained losses through self-insured retentions or large deductible programs for a wide array of risks. These can include workers compensation, automobile liability, general liability, medical professional liability, and property. Most companies use an actuarial report to determine the net retained liabilities for these risks. However, many auditors and […]

By Michelle Bradley, ACAS, MAAA, ARM, CERA and Lucy Zhang In the last quarter of 2014, SIGMA Actuarial Consulting Group invited a group of insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in a survey regarding collateral.  This survey was similar to the ones conducted by SIGMA in 2009 […]

In the last quarter of 2013, SIGMA Actuarial Consulting Group invited a group of insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in a survey regarding collateral. This survey was similar to the ones conducted by SIGMA in 2009 through 2012. The goal of the survey was to assess, […]

A few months ago, we conducted a survey concerning the utilization of analytics in the retention decision process.  As I continue through the PhD program at Oklahoma State University my prospective dissertation topic continues to move toward the study of analytical capabilities within an organization and its correlation with organizational performance. While the risk management […]

In the last quarter of 2012, SIGMA Actuarial Consulting Group conducted a survey of insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in a survey regarding collateral.  This survey was similar to the ones conducted by SIGMA in 2009 through 2011. The goal of the survey was to assess, […]

SIGMA Actuarial Consulting Group, Inc. invites insurance brokers, risk management consultants, and risk management staff of self-funded concerns to participate in our 2012 collateral survey. The survey takes about 5 minutes to complete and will be available through November.  The published survey results will be shared with our survey participants. As an added bonus, participants […]

Note: The following article uses workers compensation as an example only. The technique is applicable to any line of coverage. A very effective method to measure the impact of a loss control program is an analysis of losses versus payroll. This statistic is called the pure loss rate. The pure loss rate is calculated by […]