| ACTUARIAL SERVICESNineteen ninety-eight will be
remembered as an important turning point by members of MWCIA's Actuarial Services
Department.
Through their excellent work, we were able to shave two weeks off the usual production schedule of our Ratemaking Report, shipping it to members on September 4. Our 16th Annual Ratemaking Report included an IBM-PC compatible data disk complete with base rates and rating values to assist carriers in preparing their own company rate filings. Working with our IS department, we completed development of our new carrier call program. Among its features are a remote system that allows carriers to electronically submit their financial data on diskette and built-in editing capability to correct errors and identify anomalies prior to submitting the data to MWCIA. The program is being shipped on a limited basis to 18 carriers in 1999 and is scheduled for general release in 2000. One of our most notable achievements in 1998 resulted from the combined efforts of the Department of Commerce, the Department of Labor and Industry, the Workers' Compensation Reinsurance Association and the Self-Insurers' Security Fund. Together we were able to create the Minnesota Self-Insurers Statistical Data Manual. Data collection will commence April 1, 1999. Finally, we were able to negotiate the transfer of the Assigned Risk Trust Fund's assets and liabilities. The agreement transfers all assets to American Re-Insurance, arranges for the consolidation for future claims handling and provides a structure for the closing of many older claims. It is expected to improve the long-term financial integrity of the fund. |
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