Specifications include, but are not limited to: The Contractor shall provide an annual property/casualty/workers’ compensation actuarial report complete with statistical exhibits and graphs outlining the State’s experience and actuarial forecasts for the last 10 years (utilizing data from FY 1982 to present) as well as in the immediate future. This written report must include color graphs, which provides complete documentation of the methodologies and assumptions employed in the analysis. During the course of the study, the contractor must consider: 1. Historical payment development and incurred loss development for each coverage analyzed. 2. Claim Development patterns and recent changes in such patterns. 3. Individual claim reserves where appropriate. 4. Reasonableness of the data provided for the analysis.
