Enterprise Risk Management

Topic: workers compensation reserves

1.  workers compensation reserves

Posted 03-09-2012 10:51 AM
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
PBuck@...
-------------------------------------------