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Workers Compensation Data Sources

Workers Compensation Data Sources. Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005. Major Sources of Workers Compensation Data. NCCI Independent States’ Bureaus Government Agencies Other In-house data Annual statements Vendors Industry Associations. Moshe D. Goldberg, FCAS

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Workers Compensation Data Sources

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  1. Workers Compensation Data Sources Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  2. Major Sources of Workers Compensation Data • NCCI • Independent States’ Bureaus • Government Agencies • Other • In-house data • Annual statements • Vendors • Industry Associations Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  3. NCCI Data • NCCI Data Resources • ELF Books • Schedule Z data • Annual Statistical Bulletin (ASB) • State of the Line Report • Rate Filings • PricePoint • Detailed Claim Information (DCI) Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  4. NCCI Data • ELF Books • Injury Type by Hazard Group Distributions • Indemnity and Medical trend rates • Indemnity and Medical case-incurred development factors as well as severity development factors, but only for the first three report years • Of course, ELF parameters by State, Injury Type, Hazard Group • NCCI is currently filing new ELFs based on a new procedure. These ELFs are becoming less severe for the layers that reinsurers care most about. Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  5. NCCI Data • Z-Data • Developed or undeveloped loss counts and amounts for each year at 1st through 5th report by state/class code/injury type • Also standard and manual premiums as well as payroll data • NCCI only has this for NCCI states, but all the independent bureaus make this data available, too. Most independent states provide undeveloped data along with non-injury type specific LDFs. Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  6. NCCI Data • ASB is a treasure trove of information, including: • Premium Level Changes by year for countrywide and by state • Benefit Level Changes by state • Five years of calendar year experience by state and countrywide • Average Weekly Wages by state for 5 years Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  7. NCCI Data • ASB data (continued): • Ground-up Accident Year paid and case-incurred development (including tails!) for: • Indemnity, Medical and Combined • countrywide and by state • Average Severity by injury type and state • Frequency by injury type and state • Injury Type Distributions by state Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  8. NCCI Data • State of the Line Report • Accident Year and Calendar Year Loss Ratios for the industry • Frequency and severity trends for lost-time claims • Rate level changes including schedule credits • However industry-wide and not by state Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  9. NCCI Data • Rate Filings • Loss Costs • Trend • Development • Onlevel • Rate adequacy • However, these are on bureau rate/loss cost level and ignores deviations (company filed, schedule credits, etc.) Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  10. NCCI Data • PricePoint • Rate Level info • Filed bureau rate/loss cost • Final charged premium • By state and governing class • However only available for primary carriers Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  11. NCCI Data • Detailed Claim Information • Average and median severities going back 10 accident years from a sample of claims • Medical, Indemnity and Total • By state (only NCCI states) • A lot of other claim info such as • with or without attorney involvement • nature of injury • other stuff, too Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  12. Independent States’ Bureaus • Independent Bureaus • Data from them not as standardized • Some bureaus (e.g., CA) perform many detailed studies • Common to all • Rate level histories • Schedule Z data • Rate filings • ELFs Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  13. Independent Bureaus’ Websites • www.nycirb.org (NY) • www.njcrib.com (NJ) • www.pcrb.com (PA & DE) • www.wcribma.org/mass/Actuarial/data.aspx (MA) • www.wcirbonline.org (CA) Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  14. Government Agencies • Bureau of Labor and Statistics • Injuries, Illnesses, and Fatalities (IIF) • Frequencies for fatal and non-fatal injuries • Distributions of injuries by many variables: • Gender, Age, Body Part of Injury, etc. • Lost time bands • National Compensation Survey (NCS) • Payroll information • Wage trends • State Governments have data, too. Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  15. Sample of BLS’s IIF Data

  16. Other Data Sources • Reinsurer’s in-house data • From the reinsurer’s own experience • From submissions • Annual Statement-based data • Best’s Aggregates and Averages • Ceding company or competitors’ Schedule P • OneSource Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  17. Other Data Sources • Vendors • Workers Compensation Research Institute • Workers Loss Data Institute • Conning • Industry Associations • RAA, especially the Loss Development Study • Council of Insurance Agents & Brokers (CIAB) • CIAB website contains their quarterly survey of rate changes for many lines Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

  18. Some More Websites • www.bls.gov/ncs/ (wage trends and payroll info) • www.bls.gov/iif/home.htm (Job injury data) • www.workerscompresources.com • www.ilr.cornell.edu/library/subjectGuides/disabilityAndTheWorkplace.html Moshe D. Goldberg, FCAS CARe Seminar June 6-7, 2005

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