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1、2014-CAS8§31998Adj.NCCIExper.RatingPlanHCM5/13/14,Page83Section3,The1998AdjustmenttotheNCCIExperienceRatingPlan32ChangesMadetotheNCCIExperienceRatingPlanin1998:1.ReducingtheWeightofMedicalOnlyLosses.2.IncreasingtheWeightonExcessLosses.3.Inflation-SensitivePrimary-ExcessSplitofActualLosses
2、.ReductioninWeightforMedical-Onlys:Asbefore,MedicalOnlyLossesaresplitintoaprimaryandexcessportion,asareanyotherlosses.Currentlythatsplitismadeat$5000.However,nowonly30%oftheprimaryandexcessmedicalonlylossesentertheexperienceratingcalculation.A$3000medicalonlyclaimwouldhave(30%)(3000)=$900
3、actualprimary,andnoactualexcess.A$9000medicalonlyclaimwouldhave(30%)(5000)=$1500actualprimary,and(30%)(4000)=$1200actualexcess.Exercise:Rachelhadamedicalonlyclaimfor$8000.Anthonyhadamedicalonlyclaimfor$4000.Inadditiontherewere14smallmedicalonlyclaims,eachofsizelessthan$2000,thattotaled$9,
4、000.Whatisthecontributiontotheactualprimaryandactualexcesslossesforexperiencerating?[Solution:Rachelʼsclaimcontributes(0.3)($5000)=$1500totheprimary,and(0.3)($8000-$5000)=$900totheexcess.totalcontributiontoprimary=1500+(0.3)(4000)+(0.3)(9000)=$5400.totalcontributiontoexcess=$900.]Priortot
5、hischange,manyemployerswouldpaymedicalonlyclaimsthemselvesandnotreportthemtotheinsurer.33Thustheseclaimsdidnotentertheexperienceratingplan.Byreducingtheimpactonexperienceratingofmedicalonlyclaims,itreducesthefinancialincentivenottoreporttheseclaims.Thischangereducestheratablemedicalonlylo
6、sses,reducingtheexpectedprimaryandexcesslosses.ThustheExpectedLossRates(ELRs)willbeslightlylower.Sincethischangeremovesalargerpercentofprimarylossesthanexcesslossesfromtherating,theD-Ratiowillbeslightlylower.32NCCIʼs“The1998AdjustmenttotheExperienceRatingPlan:YourGuidetoUnderstandingtheCh
7、anges.”CASLearningObjectiveB3.33Someofthese“medicalonly”claimsturnedintolosttimecases,creatingbigheadachesforinsurerswhodidnotevenknowtherewasaninjuredworker.2014-CAS8§31998Adj.NCCIExper.RatingPlanHCM5/13/14,Page84Dataonsmallaccidents,providedtheyarereported,hasarea
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