Our most commonly requested services are described below. In addition, we are always interested in helping solve unique and challenging data and analytical problems. Contact us to discuss your how Archer can help you!
Loss reserves (also known as self-insured accruals) are important components of an organization’s risk management and accounting processes. Archer’s vast loss reserving experience will help ensure the overall success of your organization’s risk retention program.
We appreciate the importance of accurate and reliable reserve estimates. Our methods emphasize thoughtful and measured responses to new information; this approach helps mitigate the volatility inherent in claims experience over time. We work with each of our clients to understand the unique characteristics of their organization’s risk profile and we reflect these factors in our reserving process.
Loss forecasts (sometimes called budgets) are estimates of the future costs of an organization’s risk management program. In a self-insured context, a forecast most often represents an estimate of the retained loss in the upcoming policy year. The main difference between loss reserve estimates and forecasts is that loss reserves are retrospective whereas forecasts are prospective.
In addition to providing expert forecasts at various retentions, Archer can help your organization allocate insurance costs to individual business units efficiently and equitably.
Archer is available to support all of your actuarial and analytic needs. In addition to loss reserving and forecasting, we provide the following commonly requested services:
- Collateral negotiations
- Excess limits and SIR optimization
- Loss portfolio transfer pricing
- Due diligence for mergers and acquisitions
- Statements of Actuarial Opinion
- Miscellaneous regulatory compliance
Actuaries are trained to draw meaningful conclusions from data. At Archer, we combine analytical skills and proficient use of technology to make valuable contributions in virtually any discipline. We enjoy leveraging our decades of experience to solve problems accurately and efficiently. Let us know what data and analytical challenges we can help you solve.
If your company currently self-insures (or formerly self-insured) workers compensation in the California, it is required to file an annual actuarial study and actuarial summary with the state. This year, the reports must be electronically filed by May 1, 20221.
A filing exception is available for self-insureds with either: A) 10 or fewer open claims, or, B) less than $1 million of estimated future liabilities.
If your Minnesota-domiciled organization self-insures its workers compensation exposure, it likely needs a regular actuarial certification
from a member of the Casualty Actuarial Society via Minnesota 2019 Statute 79A.04.