District of Columbia. October 4,
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1 District of Columbia October 4,
2 District of Columbia State Advisory Forum Deputy Director Mohammed Sheikh, Department of Employment Services Director Odie Donald II, Department of Employment Services Courtney Snowden, Deputy Mayor for Greater Economic Opportunity Annual Issues Symposium (AIS): Bill Donnell Video Introduction Countrywide Workers Compensation System District of Columbia s Workers Compensation System and Filing Activity Countrywide and District of Columbia Labor Markets Legislative Issues: Countrywide Emerging Issue: 2017 Medical Marijuana Update Residual Market: Countrywide and District of Columbia Q & A 2
3 AIS Presentation Video Excerpt Bill Donnell NCCI President and CEO
4 Countrywide Workers Compensation System
5 Countrywide Workers Compensation (WC) System An Overview After five years of growth, premium is flat in the most recent year The combined ratio continues to show favorable results Frequency declined again at the latest point Medical and indemnity severity are increasing modestly 5
6 WC Net Written Premium Private Carriers and State Funds $ Billions State Funds ($B) Private Carriers ($B) p Calendar Year p Preliminary Source: NAIC s Annual Statement data; includes state insurance fund data for the following states: AZ, CA, CO, HI, ID, KY, LA, MD, MO, MT, NM, OK, OR, RI, TX, and UT Each calendar year total for state funds includes all funds operating as a state fund in that year 6
7 WC Direct Written Premium (DWP) Change by Component Private Carriers NCCI States Change in Direct Written Premium: 0.0% 2016 vs Payroll +4.0% Loss Cost and Mix -2.7% Carrier Discounting -1.4% State Fund Conversion to Private Carrier +1.0% Other Factors -0.8% Sources: DWP Change: NAIC s Annual Statement Statutory Page 14 for all states where NCCI provides ratemaking services Components: NCCI s Policy data 7
8 Increases in Payroll Continue to Drive Premium Growth Forecast Change Wage Rate Payroll +4.5% Employment +2.5% +1.9% 4% 4% 3% 3% 2% 2% 1% 1% 0% 0% -1% Prof. & Business Services Trade, Transport., & Utilities Education & Health Services Financial Activities Construction Manufacturing Construction Leisure & All Other Hospitality -1% Prof. & Business Services Trade, Transport., & Utilities Education & Health Services Financial Activities Manufacturing Leisure & All Other Hospitality Sources: Moody s Analytics and NCCI 8
9 Percent 5 WC Approved Changes in Bureau Premium Level By Effective Year for NCCI States p Calendar Year p Preliminary Source: NAIC s Annual Statement Statutory Page 14 Bureau premium level changes reflect approved changes in advisory rates, loss costs, assigned risk rates, and rating values, as of 5/12/2017, relative to those previously approved in NCCI states only IN and NC are filed in cooperation with state rating bureaus 9
10 Percent WC Impact of Discounting on Premium Private Carriers NCCI States p Policy Year p Preliminary Sources: NAIC s Annual Statement Statutory Page 14 and NCCI s Financial Call data NCCI benchmark level does not include a profit and contingency provision or expense constant Based on data for all states where NCCI provides ratemaking services, excluding TX 10
11 WC Impact of Discounting on Premium Private Carriers NCCI States Dividends Schedule Rating Rate/Loss Cost Departure p Policy Year p Preliminary Sources: NAIC s Annual Statement Statutory Page 14 and NCCI s Financial Call data Dividend ratios are based on calendar year statistics NCCI benchmark level does not include a profit and contingency provision or expense constant Based on data for all states where NCCI provides ratemaking services, excluding TX 11
12 Percent WC Combined Ratio Underwriting Gain Achieved Private Carriers 3% lower p Calendar Year p Preliminary Source: NAIC s Annual Statement data 12
13 WC Combined Ratio Components Private Carriers Percent Dividends Underwriting Expense Ratio Loss Adjustment Expense (LAE) Ratio Loss Ratio p Calendar Year p Preliminary Source: NAIC s Annual Statement data 13
14 WC Net Combined Ratios Calendar Year vs. Accident Year As Reported Private Carriers Percent 120 Calendar Year Accident Year p p Preliminary Source: NAIC s Annual Statement data Accident Year information is reported as of 12/31/2016 Includes dividends to policyholders 14
15 WC Lost-Time Claim Frequency Change in Lost-Time Claims per $1M Pure Premium Percent 5 Private Carriers and State Funds NCCI States Average Annual Change: 3.6% ( ) p Accident Year 2010 and 2011 adjusted primarily for significant changes in audit activity p Preliminary based on data valued as of 12/31/2016 Source: NCCI s Financial Call data, developed to ultimate, premium adjusted to current wage and voluntary pure premium level, excludes high-deductible policies; based on data through 12/31/2015 Values displayed reflect the methodology underlying the most recent rate/loss cost filing Includes all states where NCCI provides ratemaking services; WV is excluded through
16 WC Average Medical Lost-Time Claim Severity Severity ($ Thousands) 35 Private Carriers and State Funds NCCI States % +5% $27.7 $ p Accident Year p Preliminary based on data valued as of 12/31/2016 Source: NCCI s Financial Call data, developed to ultimate, excludes high-deductible policies; based on data through 12/31/2015 Values displayed reflect the methodology underlying the most recent rate/loss cost filing Includes all states where NCCI provides ratemaking services; WV is excluded through
17 Changes in Medical Lost-Time Claim Severity by Component Private Carriers and State Funds NCCI States +72% +56% Change in the Medical Utilization Component +47% +27% Change in Overall Medical Severity +16% Change in the Medical Price Component +20% +14% +2% +12% 1995 to to to 2016p p Preliminary based on data valued as of 12/31/2016 Sources: Severity: NCCI s Financial Call data, developed to ultimate, excludes high-deductible policies; based on data through 12/31/2015 Values displayed reflect the methodology underlying the most recent rate/loss cost filing Includes all states where NCCI provides ratemaking services; WV is excluded through 2007 Centers for Medicare & Medicaid Services: Personal Health Care (PHC) Chain-Weighted Price Index: 17
18 Severity ($ Thousands) WC Average Indemnity Claim Severity Private Carriers and State Funds NCCI States % +3% $23.2 $ p Accident Year p Preliminary based on data valued as of 12/31/2016 Source: NCCI s Financial Call data, developed to ultimate, excludes high-deductible policies; based on data through 12/31/2015 Values displayed reflect the methodology underlying the most recent rate/loss cost filing Includes all states where NCCI provides ratemaking services; WV is excluded through
19 Relative Growth Rates Indemnity Severity vs. Wage Inflation Private Carriers and State Funds NCCI States +65% +33% Change in Indemnity Severity in Excess of Wage Inflation +34% +9% Change in Overall Indemnity Severity +32% Change in Wage Inflation +25% +7% +19% -12% 1995 to to to 2016p p Preliminary based on data valued as of 12/31/2016 Sources: Severity: NCCI s Financial Call data, developed to ultimate, excludes high-deductible policies; based on data through 12/31/2015 Values displayed reflect the methodology underlying the most recent rate/loss cost filing Includes all states where NCCI provides ratemaking services; WV is excluded through 2007 US Average Weekly Wage: and , Quarterly Census of Employment and Wages; , NCCI; 2016p, NCCI and Moody s Analytics 19
20 District of Columbia Workers Compensation System
21 District of Columbia Workers Compensation System An Overview Decline in premium for latest year Fourth consecutive year of underwriting gains Virtually no change in frequency in most recent policy year Increasing indemnity and medical costs 21
22 District of Columbia Workers Compensation Premium Volume Direct Written Premium in $ Millions Calendar Year Source: NAIC S Annual Statement data 22
23 Impact of Discounting on Workers Compensation Premium in the District of Columbia 9% 8% 7% 7% 7% 6% 3% 6% 4% 2% 1% Percent -3% -1% -5% -1% -4% p Based on data through 12/31/2016 Dividend ratios are based on calendar year statistics Policy Year Dividends Schedule Rating Rate/Loss Cost Departure 23
24 District of Columbia Accident Year Combined Ratios by Component 105% 1% 32% 93% 1% 86% 87% 1% 1% 92% 1% 31% 37% 46% 40% 73% 46% 54% 46% 55% Loss Ratio Expense Ratio Dividend Ratio Accident Year Sources: NCCI s financial data through 12/31/2016 and NAIC s Annual Statement data 24
25 District of Columbia Workers Compensation Lost-Time Claim Frequency Lost-Time Claims 3.2% 2.1% 2.1% Percent Change -2.1% -1.1% -0.4% -2.5% 0.1% -4.1% -3.9% -4.5% -6.7% -6.6% Cumulative Change of 31.2% ( ) -11.4% Policy Year Based on NCCI s financial data through 12/31/2016, developed to ultimate, premium adjusted to common wage level 25
26 District of Columbia Average Indemnity Claim Severity Lost-Time Claim Severity in $ Thousands Cumulative Change of +71.2% ( ) 25.7% 19.6% -4.6% -8.9% 2.6% 12.2% 0.0% 6.7% 1.7% 7.3% 6.0% -9.7% -3.6% 5.9% $39.9 $37.2 $36.6 $34.3 $34.3 $30.5 $29.8 $32.7 $34.3 $28.6 $22.8 $21.5 $22.3 $24.7 $ Policy Year Based on NCCI s financial data through 12/31/2016, on-leveled and developed to ultimate 26
27 District of Columbia Average Medical Claim Severity Lost-Time Claim Severity in $ Thousands Cumulative Change of +74.1% ( ) 50.7% 24.2% -7.3% -4.6% 4.1% 36.0% -15.7% -4.8% 0.2% 16.0% -28.1% 11.6% -10.8% 11.4% $20.4 $19.6 $20.6 $22.2 $17.8 $16.0 $18.0 $16.1 $22.4 $14.9 $12.8 $12.8 $13.4 $15.9 $ Policy Year Based on NCCI s financial data through 12/31/2016, on-leveled and developed to ultimate 27
28 District of Columbia Filing Activity Voluntary Loss Cost and Assigned Risk Rate Changes 6.8% 7.8% 0.4% 0.1% 2.8% 0.4% 2.0% -4.6% -3.7% -5.6% Voluntary Assigned Risk 28
29 District of Columbia November 01, 2017 Loss Cost Filing Overall Loss Cost Level Change: 3.0% Change in Experience: 5.5% Change in Trend: 2.5% Change in Benefits: 0.2% Change in All Other: 0.1% 29
30 Cumulative Loss Cost Level Change (%) District of Columbia Cumulative Loss Cost Level Change 10% 8% 7.2% 7.6% 6% 4% 3.6% 2% 0% 0.0% 0.4% 0.5% -2% -4% -3.3% -2.7% -2.4% -6% -8% -10% -8.4% 11/08 11/09 11/10 11/11 11/12 11/13 11/14 11/15 11/16 11/17 Effective Date 30
31 Percent 15 Current NCCI Voluntary Market Loss Cost/Rate Level Changes Excludes Law-Only Filings NM NC OR NH MD CO TN AL CT IL NV WV OK LA FL IN UT IA AR AK VT MT TX KS AZ MS KY RI ME NE DC MO HI ID SD GA VA SC Approved Pending Reflects the most recent experience filing in each jurisdiction Due to the timing of the individual loss cost/rate filings, the figures shown may include changes from prior filing seasons 31
32 Current Voluntary Market Rates/Loss Costs Northeastern States Virginia* 4/1/ % Massachusetts 7/1/ % Maine 4/1/17-4.3% New York* 10/1/17-4.5% Rhode Island 8/1/17-4.5% Vermont 4/1/17-7.9% Connecticut 1/1/ % Maryland 1/1/ % New Hampshire* 1/1/ % *Pending 32
33 Current Average Voluntary Pure Loss Costs Using District of Columbia Payroll Distribution Pure Loss Cost All Classes DC MD VA Region Country Based on the latest NCCI approved rates and loss costs in the various states 33
34 Countrywide and District of Columbia Labor Markets
35 National Economic Highlights and Their Impact on Workers Compensation National Economic Indicator Private employment growth is expected to continue to slow Potential Impact on the Workers Compensation Market The impact on payroll and premium will also slow Wage growth is poised to accelerate Upward pressure on payroll and premium as well as indemnity severity Medical inflation is forecast to slow and then reaccelerate Interest rates are still low but expected to increase Increases in medical costs per claim Investment income will likely remain muted this year but increase as interest rates rise 35
36 Change in Private Employment Private Employment Growth Is Below Average Percent 3 District of Columbia United States Q1 2016Q1 2017Q1 Year-on-year percentage change; employment is for Total Private Industry Frequency of observation: quarterly; latest available data point: 2017 Q1 Sources: US Bureau of Labor Statistics, Moody s Analytics, and NCCI 36
37 Percent 4 Change in Average Weekly Wages Wage Growth Is Below the Rest of the Nation District of Columbia United States Q1 2016Q1 2017Q1 Year-on-year percentage change; wages are for Total Private Industry Frequency of observation: quarterly; latest available data point: 2017 Q1 Sources: US Bureau of Labor Statistics, Bureau of Economic Analysis, Moody s Analytics, and NCCI 37
38 Private Industry Payroll Growth Decomposition Payroll Growth Is Lower Than the Nation Percent % Payroll % AWW % +2.0% % +1.7% Employment 0 District of Columbia United States 2017 Q1 year-on-year percentage change; AWW = Average Weekly Wage Sources: US Bureau of Labor Statistics, Bureau of Economic Analysis, Moody s Analytics, and NCCI 38
39 Change in Employment by Industry Employment in Several Industries Has Decreased in the Past Year Industrial Sector Professional and business services Leisure and hospitality Education and health services Government Manufacturing Financial activities Trade, transportation, and utilities Information Other services Construction Year-Over-Year Percent Change, 2017Q1 Sector Size % Share 1-Year Change DC , ,400 US +3.1 DC , ,100 US +1.9 DC , ,600 US +2.4 DC , US +0.8 DC , US +0.0 DC , US +2.2 DC , US +1.0 DC , US 0.9 DC , US +1.0 DC , ,200 US +2.8 Employment numbers are rounded to the nearest hundred Year-on-year percentage change; frequency of observation: quarterly; latest available data point: 2017 Q1 Sources: US Bureau of Labor Statistics, Moody s Analytics, and NCCI 39
40 District of Columbia s Payroll Growth Decomposition by Sector Employment Growth + AWW Growth Payroll Growth 10% 5% 0 +5% +10% 10% 5% 0 +5% +10% 10% 5% 0 +5% +10% Government Professional and business services Education and health services Other services Financial activities Leisure and hospitality Information Trade, transportation, and utilities Construction Manufacturing 2017 Q1 year-on-year percentage change; AWW = Average Weekly Wage; sectors are in descending order by the volume of state payroll amounts Sources: US Bureau of Labor Statistics, Bureau of Economic Analysis, Moody s Analytics, and NCCI 40
41 Headline Unemployment Rate The Unemployment Rate Is Above Average Percent DC: 6.4% US: 4.3% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Headline Unemployment Rate, seasonally adjusted Frequency of observation: monthly; latest available data point: July 2017 Source: US Bureau of Labor Statistics (BLS), 41
42 District of Columbia s Labor Market District of Columbia s unemployment rate is above the US rate Payroll growth in the District of Columbia is lower than the nation, driven by slower growth in both employment and average weekly wages Payroll has grown in all sectors except Financial Activities Education and Health Services posted the fastest growth, driven primarily by strong gains in average weekly wages Average weekly wages have fallen in some sectors Employment growth is below the US rate Professional and Business Services added the most jobs The Leisure and Hospitality sector has also added a large number of jobs and grew at the fastest rate Several sectors have experienced declines 42
43 Legislative Issues: Countrywide
44 2017 Overview Countrywide, legislative activity has increased over prior years both in volume and content. Regulation changes so far concern medical cost management, claim handling, and effectuating enacted legislation. Year to date, there has been about the same number of workers compensation-related cases at the state supreme court level as there were in The 2016 general election resulted in a net gain for Republicans in state government, where they now control both chambers of the legislature and the governor s office in 26 states. 44
45 2017 Workers Compensation Legislative Activity CA OR WA NV ID UT MT WY CO ND SD NE KS MN WI IA MO IL MI IN OH KY WV PA VA NY VT NH CT ME MA DC NJ DE MD RI AZ NM OK AR TN SC NC MS AL GA AK TX LA FL HI 0 10 Bills Introduced Bills Introduced Bills Introduced More Than 30 Bills Introduced As of 7/1/
46 Key Workers Compensation-Related Themes in Introduced Legislation First Responder Presumptions Indemnity Benefits Medical Cost Management Definitions 46
47 Federal Legislative and Regulatory Issues Impacting the Workers Compensation System NCCI engages Congress and federal agencies regarding issues impacting the state-based workers compensation system NCCI provides insights and information on the system to several agencies including: US Department of Labor (USDOL) National Institute for Occupational Safety and Health (NIOSH) Government Accountability Office (GAO) US Department of Treasury 47
48 Federal Emerging Issues Regulation of Air Ambulance Services Sen. Jon Tester (MT) introduced legislation to provide state authority Federal Aviation Administration Reauthorization Social Security Disability Insurance (SSDI) Reform SSDI Solutions Initiative recommendations Trump Administration SSDI Reverse Offset Proposal Medicare Set-Aside (MSA) Reform Legislation to be introduced to bring greater efficiency to MSA Process Congressional Budget Office scoring 48
49 Emerging Issue: The Legalization of Marijuana and Its Impact on Workers Compensation
50 State Activity Medical Marijuana Recreational Marijuana 29 8 Plus Washington, DC have legalized medical marijuana Plus Washington, DC have legalized recreational marijuana 50
51 51
52 Federal Activity US Drug Enforcement Administration Federal funds will not be used to prevent state implementation of medical marijuana laws Controlled Substances Act Unclear as to what will happen August 2016 May 2017 Currently 2017 and Beyond Will not reclassify marijuana House Resolution 244 Marijuana is an illegal Schedule I drug Current Administration 52
53 Colorado Supreme Court Coats v. Dish Network (2015) Employers can lawfully terminate workers for using marijuana outside of work hours even though the drug is LEGAL in the state. 53
54 An insurer MUST reimburse a qualified workers comp claimant for the cost of medical marijuana to treat low back pain Appealed to NM New Mexico Court of Appeals Vialpando v. Ben s Automotive Services and Redwood Fire & Casualty (2014) Supreme Court: Certiorari denied 54
55 New Mexico Court of Appeals Maez v. Riley Industrial (2015); Lewis v. American General Media (2015) An employer is required to reimburse a qualified claimant for medical marijuana if the drug is reasonable and necessary medical care for treatment of a work injury. 55
56 Connecticut Workers Compensation Commission Decision Petrini v. Marcus Dairy, Inc. and Gallagher Bassett Service (2016) Upheld decision that the claimant s use of medical marijuana for pain management of his debilitating condition constitutes reasonable and necessary medical treatment 56
57 Maine WC Board Decisions (2016) Maine WC Board: Noll v. Lepage Bakeries, Inc. and Cannon Cochran Management Services Bourgoin v. Twin Rivers Paper Co., LLC and Sedgwick CMS Self-insured employer is to reimburse costs for reasonable and proper use of medical marijuana under state s WC and medical marijuana law 57
58 Other Activity At least five states (Connecticut, Maine, Minnesota, New Jersey, and New Mexico) have allowed reimbursement for WC under certain circumstances Florida and North Dakota passed legislation in 2017 prohibiting payment of WC benefits for medical marijuana New Mexico Adopted a fee schedule to provide for reimbursement of medical marijuana to injured workers effective January 1, 2016 Introduced legislation (SB 371/HB 527) in 2017 requiring employers/carriers to pay for medical marijuana for injured workers did not pass 58
59 Questions Raised by WC Stakeholders Is marijuana a safer alternative to opioids for pain management? Is it a less expensive alternative to other drugs? When a state legalizes marijuana, what is the potential impact on neighboring states? Should states consider fee schedules for marijuana (like New Mexico)? How are appropriate dosage levels determined? What is the impact on Medicare Set-Aside Allocations since marijuana is still illegal under federal law? 59
60 Legalization of Marijuana Summary States are increasingly legalizing marijuana in some form for medical use. Courts are increasingly dealing with contested cases of medical marijuana in the work environment. Marijuana is still illegal under federal law and remains a Schedule I drug. 60
61 61
62 Residual Market: Countrywide and the District of Columbia
63 Where Does NCCI Provide Residual Market Services? As of January 2017, NCCI provides Plan Administration services in the following states: AK, AL, AR, AZ, CT, DC, GA, IA, ID, IL, KS, MS, NH, NM, NV, OR, SC, SD, TN, VA, VT, and WV Other Plan Services: DE, IN, and NC As of January 2017, NCCI provides Pool Administration services in the following states: National Pool: AK, AL, AR, AZ, CT, DC, DE, GA, IA, ID, IL, KS, NC, NH, NJ, NV, OR, SC, SD, TN, VA, VT, and WV New Mexico Pool Tennessee Reinsurance Mechanism Financial and Actuarial Services: MA and MI 63
64 Residual Market Video Excerpt Jim Nau, General Manager NCCI Residual Markets
65 District of Columbia Total Residual Market Plan Estimated Premium Volume $ Millions Premium in $ Millions as of 12/31/2016 $12M $11M $10M $8M $6M $8M $6M $5M $5M $7M $9M $9M $8M $7M $4M $2M $0M Policy Year 65
66 District of Columbia Residual Market Share Plan Premium as a Percentage of Direct Written Premium 7% 6% 5.7% 6.2% 6.5% 5.3% 5% 4.7% 4% 3% 2% 1% 0% * Calendar Year *Preliminary 66
67 District of Columbia Total Residual Market Plan Policy Counts As of 12/31/2016 1,800 1,600 1,400 1,200 1, ,648 1,402 1,311 1,046 1,018 1,127 1,240 1,318 1,407 1, Policy Year 67
68 District of Columbia Average Size Accounts for Residual Market Policies and Estimated Premium As of 12/31/2016 Premium Range Policy Count % of Policies Total Premium % of Premium Average Policy Size $0 $2, % $829, % $844 $2,500 $4, % $573, % $3,561 $5,000 $9, % $740, % $6,987 $10,000 $19, % $1,161, % $13,665 $20,000 $49, % $1,832, % $32,143 $50,000 $99, % $932, % $71,695 $100,000 $199, % $1,145, % $143,192 $200, % $0 0.0% $0 Total 1, % $7,214, % $5,109 68
69 Policy Year District of Columbia Residual Market Reinsurance Pool Net Operating Results Estimated Net Operating Gain/(Loss) Projected to Ultimate as of 12/31/ $1, $1, ($569) 2013 $3,340 -$1,000 $0 $1,000 $2,000 $3,000 $4,000 Operating Gain/(Loss) (000's) 69
70 Residual Market Summary National Stable residual market share Manageable operating results Residual market premium declined slightly in 2016 High levels of customer service satisfaction State Decline in premium volume Relatively stable residual market share Self-funded operating results Please visit ncci.com for additional state and countrywide information. 70
71 Q & A
72 Supplemental Information: Loss Cost Filing Support
73 Loss Ratio District of Columbia Indemnity and Medical Loss Ratios Policy Year Indemnity Medical Based on NCCI s financial data through 12/31/2016 at current benefit level and developed to ultimate 73
74 What Drives Indemnity and Medical Loss Ratios? Frequency (Claims/ Premium) Indemnity Severity (Loss/Claim) Indemnity Loss Ratio (Loss/Premium) Frequency (Claims/ Premium) Medical Severity (Loss/Claim) Medical Loss Ratio (Loss/Premium) 74
75 Frequency per Million of On-Leveled Premium District of Columbia Claim Frequency Policy Year Based on NCCI s financial data through 12/31/2016 adjusted to a common wage level 75
76 Average Indemnity Claim Severity ($ '000s) District of Columbia Average Indemnity Claim Severity AY Policy Year 2016 Adjusted to Common Wage Level Actual Based on NCCI s financial data through 12/31/2016 for lost-time claims at current benefit level and developed to ultimate 76
77 Average Medical Claim Severity ($ '000s) District of Columbia Average Medical Claim Severity Policy Year AY 2016 Adjusted to Common Wage Level Actual Based on NCCI s financial data through 12/31/2016 for lost-time claims at current benefit level and developed to ultimate 77
78 Supplemental Information: National/Regional Comparisons
79 Current Average Voluntary Pure Loss Costs Using District of Columbia Payroll Distribution Pure Loss Costs All Classes TX AR WV IN UT DC KS VA TN NV OR AZ NC KY MD MS SD NE AL MO HI CO IL RI LA NM IA OK SC GA ID NH FL ME VT CT MT AK CW State Based on the latest NCCI approved rates and loss costs in the various states 79
80 Indemnity Benefits Constitute the Majority of Total Benefit Costs in the District of Columbia Indemnity Medical 62.9% 37.1% 48.3% 51.7% 32.2% 67.8% Based on NCCI s financial data through 12/31/
81 District of Columbia Average Claim Frequency Frequency per 100,000 Workers All Claims DC Total 1,212 MD 774 1,708 Total 2,482 VA 455 1,896 Total 2, Lost Time Medical Only Based on NCCI s Statistical Plan data 81
82 Average Indemnity Claim Severity in the Region Lost-Time Claim Severity in $ Thousands DC MD VA PY 2014 PY 2015 Based on NCCI s financial data. 82
83 Average Medical Claim Severity in the Region Lost-Time Claim Severity in $ Thousands DC MD VA PY 2014 PY 2015 Based on NCCI s financial data. 83
84 District of Columbia Distribution of Claims by Injury Type 65% 25% 10% 69% 18% 13% 81% 13% 6% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Medical Only Temporary Total Permanent Partial Fatal & Permanent Total Regional states are MD and VA Based on NCCI s Statistical Plan data for jurisdiction/claim type combinations for which three or more cases exist 84
85 District of Columbia Indemnity Loss Distribution by Injury Type 32% 62% 6% 21% 75% 2% 2% 42% 51% 4% 3% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Temporary Total Permanent Partial Permanent Total Fatal Based on NCCI s Statistical Plan data for jurisdiction/claim type combinations for which three or more cases exist 85
86 District of Columbia Medical Loss Distribution by Injury Type 35% 50% 13% 2% 18% 69% 5% 7% 1% 34% 35% 18% 13% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Temporary Total Permanent Partial Permanent Total Medical Only Fatal Regional states are MD and VA Based on NCCI s Statistical Plan data for jurisdiction/claim type combinations for which three or more cases exist 86
87 Glossary
88 Glossary Assigned Risk Adjustment Program (ARAP) An assigned risk market program that surcharges residual market risks based on the magnitude of their experience rating modification. Calendar Year (CY) Experience of earned premium and loss transactions occurring within the calendar year beginning January 1, irrespective of the contractual dates of the policies to which the transactions relate and the dates of the accidents. Calendar-Accident Year (AY) The accumulation of loss data on all accidents with the date of occurrence falling within a given calendar year. The premium figure is the same as that used in calendar year experience. Claim Frequency The number of claims per unit of exposure; for example, the number of claims per million dollars of premium or per 100 workers. 88
89 Glossary Claim Severity The average cost of a claim. Severity is calculated by dividing total losses by the total number of claims. Combined Ratio The sum of the (1) loss ratio, (2) expense ratio, and (3) dividend ratio for a given time period. Detailed Claim Information (DCI) An NCCI Call that collects detailed information on an individual workers compensation losttime claim basis, such as type of injury, whether or not an attorney was involved, timing of the claim s report to the carrier, etc. Direct Written Premium (DWP) The gross premium income adjusted for additional or return premiums, but excluding any reinsurance premiums. 89
90 Glossary Indemnity Benefits Payments by an insurance company to cover an injured worker s time lost from work. These benefits are also referred to as wage replacement benefits. Loss Ratio The ratio of losses to premium for a given time period. Lost-Time (LT) Claims Claims resulting in indemnity benefits (and usually medical benefits) being paid to or on behalf of the injured worker for time lost from work. Medical-Only Claims Claims resulting in only medical benefits being paid on behalf of an injured worker. Net Written Premium (NWP) The gross premium income adjusted for additional or return premiums and including any additions for reinsurance assumed and any deductions for reinsurance ceded. 90
91 Glossary Permanent Partial (PP) A disability that is permanent but does not involve a total inability to work. The specific definition and associated workers compensation benefits are defined by statute and vary by jurisdiction. Policy Year (PY) The year of the effective date of the policy. Policy year financial results summarize experience for all policies with effective dates in a given calendar year period. Schedule Rating A debit and credit plan that recognizes variations in the hazard-causing features of an individual risk. Take-Out Credit Program An assigned risk program that encourages carriers to write current residual market risks in the competitive voluntary marketplace. Temporary Total (TT) A disability that totally disables a worker for a temporary period of time. 91
92 Appendix
93 NCCI s Worker Compensation Resources Financial Aggregate Calls Used for aggregate ratemaking Statistical Plan for Workers Compensation and Employers Liability Insurance (Statistical Plan) Used for class ratemaking Detailed Claim Information In-depth sample of lost-time claims Policy Data Policy declaration page information 93
94 Financial Aggregate Calls Collected Annually Policy and calendar-accident year basis Statewide and assigned risk data Premiums, Losses, and Claim Counts Evaluated as of December 31 Purpose Basis for overall aggregate rate indication Research 94
95 Policy Year Financial Aggregate Data Policy Expiration Date Policy Year 2012 Policy Year 2013 Policy Year /1/2012 1/1/ /31/2013 1/1/ /31/2016 Policy Effective Date 95
96 Calendar-Accident Year Financial Aggregate Data Policy Expiration Date Calendar- Accident Year 2013 Calendar- Accident Year 2014 Calendar- Accident Year /1/2013 1/1/ /31/2014 1/1/ /31/2017 Policy Effective Date 96
97 Statistical Plan for Workers Compensation and Employers Liability Insurance (Statistical Plan) Data Experience by Policy Detail Exposure, premium, and experience rating modifications Individual claims by injury type Purposes Classification relativities Experience Rating Plan Research 97
98 Valuation of Statistical Plan Data 1st Report Valuation 2nd Report Valuation 3rd Report Valuation 4th Report Valuation 5th Report Valuation Policy Effective 18 Months 42 Months 66 Months 30 Months 54 Months 98
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South Carolina November 2, 2017 Amy_Quinn@ncci.com 803-356-0851 Jay_Rosen@ncci.com 561-893-3062 Copyright 2017 National Council on Compensation Insurance, Inc. All Rights Reserved. South Carolina State
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More informationTennessee. October 12,
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Idaho November 15, 2017 Peter_Burton@ncci.com 610-964-8852 Sean_Cooper@ncci.com 561-893-3072 Idaho State Advisory Forum Annual Issues Symposium (AIS): Bill Donnell Video Excerpt Countrywide Workers Compensation
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