DIR Flags Self-Insured 'Outliers' after Actuarial Reports Mandated by SB 863

Ten California self-insured employers were flagged for closer scrutiny of their loss and liability estimates as a result of an Office of Self-Insurance Plans' analysis of actuarial reports, which are required by Senate Bill 863. The 2012 bill mandated that security deposits be calculated based on projected losses as well as incurred but not reported liabilities, allocated and unallocated loss-adjustment expenses as of Dec. 31. The data must be provided to OSIP in an actuarial study and summary that are due May 1 of each year. OSIP says in an informational bulletin published Nov. 20 t...