Analysis to Enable Effective Oversight of Property & Casualty and Self-Insurance Programs.
With the combined strength of leading professionals in the risk management, legal, risk control, accounting, and actuarial fields, our experience encompasses all major lines of property/casualty coverage – workers’ compensation; general liability; employment practices liability; auto liability; other liability; property; disability; and unemployment.
Review of rating bureau rates & ratemaking methodology: Bickmore currently serves on the actuarial committee of the California Workers’ Compensation Rating Bureau (WCIRB) and is experienced in reviewing ratemaking methods and presenting his findings at rate hearings.
Review of insurer rate filings: Our actuaries have worked for several insurance companies on a variety of coverages, including property, auto liability, general liability, employment practices liability, professional liability, and workers’ compensation.
Assistance with insurer financial/market conduct exams: We have a team of actuaries who specialize in workers’ compensation and who have a track record of efficient and accurate peer review of group self-insurance actuarial studies.
Performance audit: Bickmore regulatory consultants conduct performance audits of agencies such as guaranty funds or third party vendors engaged by regulators to perform outsourced services.
Review statutes/regulations: Bickmore’s knowledgeable consultants will identify, recommend, and assist with implementation of practical changes to the regulatory oversight of group self-insurance.
Benchmarking/best practices of other states: Our team has researched group self-insurance in many states and is available to assist states in tailoring best practices to their own unique circumstances.
Peer review actuarial studies (rates & liabilities): As for Insurance Departments, we have a team who specialize in workers’ compensation and have a track record of successful peer review studies.
Financial health overview: Bickmore uses available basic financial and actuarial information on each group self-insurer to review and determine its financial solvency based on the State’s existing practices, policies, procedures, statutes, and regulations.
Bickmore is available to create a state-specific report card which neatly and succinctly outlines how the state is doing in relation to other states.
Subject to data availability, the comparisons are based on a variety of key issues which are of concern to labor and management such as overall cost, program efficiency, adequacy of indemnity benefits, and return to work.
The goal of the report card is to provide a broad overview of how well the state’s workers’ compensation program is functioning from the perspective of both labor and management.