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  workers compensation reservesMar 09, 2012 10:51 AMPatricia Buck
 

workers compensation reserves
From: Patricia Buck
To: Enterprise Risk Management
Posted: Mar 09, 2012 10:51 AM
Subject: workers compensation reserves
Message:
This message has been cross posted to the following eGroups: Risk Professionals and Enterprise Risk Management .
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Each year I use an actuary to set my workers compensation reserves for claims which have been incurred from 1993-the current year.  This year the actuary added $300k for IBNR on claims that were incurred from 1993-2003.  The carrier has the outstanding balances on these old accounts at $100k.  Should IBNR be reserved for on  old claims especially if you have not seen any change in the older claims?

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Patricia Buck
Sr Risk Mgmt Administrator
CH Energy Group
Poughkeepsie NY
United States
PBuck@cenhud.com
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