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Organizations that sponsor a self-funded workers' compensation program or muli-employer
funds are required to measure and report on an actuarial basis the Incurred But
Not Reported (IBNR) claims against the fund. Actuarial consulting for workers'
compensation plans has been a service offered by Conrad Siegel
Actuaries since 1978. For our self-funded clients,
we prepare an actuarial reserve analysis projecting the value of the funds incurred
and outstanding liability by fund year. We also prepare a projection of the
loss experience of the fund for its upcoming year by various levels of actuarial
confidence and render an opinion that the loss cost proposed will be adequate to
satisfy the fund's workers' compensation liabilities. We have also successfully
challenged, on behalf of our clients, increased security requirements imposed by
the Bureau of Workers' Compensation that have saved thousands of dollars for our
clients.
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