Workers’ Compensation

M&A has extensive reserving, pricing, and other consulting experience dealing with workers’ compensation (WC) exposures.  This includes services for more than 50 self-insured entities, self-insurance funds, captive insurers, traditional insurance companies, and law firms representing carriers.  Additionally, M&A has provided extensive consulting services to more than a dozen regulatory entities, including assistance with financial and target examinations and loss cost & rate filing reviews of both independent carriers and bureau filings.  We have also reviewed experience rating filings on behalf of states as well as assisted in the development of experience rating programs.  This broad range of experience gives M&A’s consultants a comprehensive understanding of the issues relevant to WC. 

Our WC work on behalf of state insurance departments includes the following:

• We currently review the NCCI filings for Alabama, Maryland, Mississippi and South Carolina.  These reviews typically address, among other things, statewide loss cost changes, changes by industry group, and the general workers’ compensation insurance environment in that state.  Our recent reviews of NCCI filings have addressed the NCCI’s revised class rate making methodology.
• We have reviewed rate filings submitted by the Injured Workers Insurance Fund (IWIF) of Maryland for the Maryland Insurance Administration, and these reviews have included consideration of rates by class and experience rating plan.
• We have reviewed North Carolina Rate Bureau filings for the North Carolina Department of Insurance.
• We have reviewed the Alabama workers’ compensation residual market fund, the South Carolina second injury fund, and the experience rating system for the Wyoming workers’ compensation fund. 
• We have recently been involved in a regulatory project involving the workers’ compensation rates for AIG.

All of these engagements have required thorough, detailed reviews that have often required expert testimony.