MB-2725 – USA (Arizona) – GLOBAL – Liability, City Property and Worker Compensation Programs Actuarial Services – Deadline December 31,2018

Vendor needs to provide liability, city property and worker compensation programs actuarial services.
– Using the city’s historic loss (claim) data (valued as of December 31) combined with city payroll, operating budget, total-insured value, self-insured retentions by line of coverage, interest rate assumptions, most recent financial audit, unallocated loss adjustment expenses and risk management costs, actuary will provide separate actuarial estimates for each fiscal year separately for liability, city property damage and workers’ compensation. The services are to include the following:
– Estimate outstanding losses.
– Project ultimate limited losses.
– Project losses paid.
– Compare to previous actuarial study.
– Size of loss distribution. Analyze the distribution of losses in various layers.
– Affirm statement no. 10 and 30 compliance. Provide a statement affirming the conclusions of this report are consistent with Statement No. 10 and 30. Project losses at alternative retentions.
– Mid-year actuarial review and update.
– Cost allocation plan critique.