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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
This message has been cross posted to the following eGroups: Risk Professionals and Enterprise Risk Management .

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?

Patricia Buck
Sr Risk Mgmt Administrator
CH Energy Group
Poughkeepsie NY
United States
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