Our consultants have extensive experience with workers’ compensation (WC) exposures for insurance companies, self-insured entities, professional employer organizations, second injury funds, and in challenging regulatory environments such as California. This experience includes reserving, pricing/product management and regulatory experience from both the company and consulting perspectives.
Our consultants have extensive experience with workers’ compensation exposures for insurance companies, self-insured entities, professional employer organizations, second injury funds, and in challenging regulatory environments such as California. This WC experience includes reserving, pricing, product management, and regulatory experience from both the company and consulting perspectives.
We provide statements of actuarial opinions for several companies that concentrate on, or only write, WC. In addition to reserve analyses for insurance companies, we provide similar services to many captives, self-insured funds and large self-insureds with annual and mid-year valuations.
Pricing / Product Management
Our workers’ compensation pricing and product management experience includes developing rates/rate structures including experience, large deductible and retrospective rating plans, assisting with large account underwriting, assistance with developing and negotiating reinsurance agreements, and providing other actuarial services for dozens of insurance companies, self-insured entities, self-insurance funds, MGAs and captive insurers.
Our consultants have provided extensive workers’ compensation consulting services to more than a dozen regulatory entities, including assistance with financial/target examinations and loss cost & rate filing reviews of both independent carriers and bureau filings. We are extremely knowledgeable about the NCCI filings and rating methodology, and have testified in numerous NCCI rate hearings on behalf of state insurance departments.
Our consultants have created analytics-based insights and solutions related to WC for insurers, consulting firms, and a large professional employer organization. Their experience includes early warning models, pricing models, carrier renewal negotiation analytics, and risk & safety workplace optimization models.
Beyond the “traditional” reserving and funding actuarial services, our consultants have shown their workers’ compensation insurance expertise across a broad range of projects. Some examples are shown below:
- Assisting one of the first U.S. reinsurers entering the Argentinian WC market as it was being privatized. The entailed analyzing the loss experience of the prior WC system to determine where the profitable business would in the new WC system, and developing a reinsurance treaty structure that appropriately managed the risk in the new system.
- Assisted in the development and rating of a 24 hour insurance policy, combining WC and health insurance for employees as a means to address ever increasing WC and health care costs
- Our consultants have provided assistance to law firms in several cases related to WC exposures.
This broad range of experience has provided Merlinos & Associates an understanding of the issues relevant to WC that many actuarial firms do not possess, and this understanding allows us to provide insightful, efficient, practical guidance to our clients.
Workers’ Compensation Blog
- Deciphering AI’s Promises and Perils to Ensure Value in Workers’ Compensation Analytics
- Constructive Collateral Conversations Part 1: Insured Company Pain Points
- Constructive Collateral Conversations Part 2: Insurance Company Pain Points
- Constructive Collateral Conversations Part 3: How to Help Both Insureds and Insurers Simultaneously
Professional Employer Organizations
Learn more about our experience with PEOs.