Enterprise Risk Management

Subject: 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