On August 12, 2011 the Bureau submitted a residual market rate and voluntary market loss cost filing to the Delaware Insurance Department. That filing, designated as Bureau filing No. 1105, proposed revisions to residual market rates, voluntary market loss costs, related rating values and Manual rules effective December 1, 2011.
A complete listing of the proposals and supporting information comprising the Bureau’s December 1, 2011 loss cost filing appears below. Clicking on each listed item will allow you to review and/or download the filing materials as needed.
Copies of the filing material may be printed once the item(s) in question have been accessed. (Note: In total the filing is quite voluminous. Before printing be sure that you understand the magnitude of the file(s) you will be printing and how your system and equipment will respond to and/or be affected by a print command.)
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| Filing Letter | ||
| Record of meeting - Actuarial and Classification & Rating Committees, August 8, 2011 | ||
| Summary of Material for Modification of Experience ("Brown Book") | ||
| Class Book | ||
| Exhibit 1 - Limited Losses | Table I - Summary of Financial Call Data | |
| Exhibit 1a | Excess Loss Factor and Policy Year Loss Limitations | |
| Exhibit 1b | Reported Losses in Excess of Loss Limitations | |
| Exhibit 2 - Limited Losses | Paid and Incurred Loss Development and Trend | |
| Exhibit 2a - Limited Losses | Graphs of Selected Loss Development Projections | |
| Exhibit 3 - Limited Losses | Measures of Goodness of Fit in Trend Calculations Using Severity Ratios | |
| Exhibit 5 | Graphs of Ultimate and Trended Experience Components | |
| Exhibit 6 - Limited Losses | Retrospective Test of Trend Projections for Severity Ratios | |
| Exhibit 7 | Closure Rates, Payout Ratios and Average Claim Costs | |
| Exhibit 8 | Expense Study | |
| Exhibit 9 | Internal Rate of Return Model | |
| Exhibit 10 | Effect of 7/1/12 Benefit Change | |
| Exhibit 11 | Expense Loading | |
| Exhibit 12 | Indicated Change in Residual Market Rate and Voluntary Market Loss Costs | |
| Exhibit 13 | Experience Rating Plan Performance | |
| Exhibit 14 | DCCPAP | |
| Exhibit 15 | Rate and Loss Cost Formulae | |
| Exhibit 16 | Small Deductible Program | |
| Exhibit 17a | Empirical Delaware Loss Distribution | |
| Exhibit 17b | Excess Loss (Pure Premium) Factors | |
| Exhibit 17c | Excess Loss (Pure Premium) Factors with Adjustment for ALAE | |
| Exhibit 17d | Excess Loss Premium Factors | |
| Exhibit 17e | Excess Loss Premium Factors with Adjustment for ALAE | |
| Exhibit 19 | Delaware Insurance Plan | |
| Exhibit 20 | Review of Experience Rating Plan Parameters | |
| Exhibit 21 | Table B | |
| Exhibit 22a | Table II - Unit Statistical Data | |
| Exhibit 22b | Table III - Unit Statistical Data | |
| Exhibit 22c | Table IV - Unit Statistical Data | |
| Exhibit 23 | Claim Frequencies | |
| Exhibit 24 | Retrospective Development Factors | |
| Exhibit 25 | Tax Multiplier | |
| Exhibit 27 | Manual Rates, Loss Costs and Expected Loss Rates | |
| Exhibit 28 | Index and Supporting Classification Exhibits | |
| Exhibit 29 | Delaware Workplace Safety Program & Merit Rating Program | |
| Exhibit 30 | Distribution of Residual Market Rate Changes | |
| Exhibit 31a | Summary of Indicated and Proposed Residual Market Rates by Class Code | |
| Exhibit 31b | Summary of Indicated and Proposed Residual Market Rates by Percentage Change | |
| Manual Rates, Loss Costs and Expected Loss Rates (including 5 percent reductions required by Court of Chancery Decision). | ||
| Exhibit 43 | 5 Percent reductions to voluntary market loss costs, residual market rates and residual market minimum premiums reflecting Court of Chancery Decision. | |
| Exhibit 45 | Voluntary market reductions for selected exemption levels applied to the 5 percent annual reductions. | |
| Exhibit 46 | Percentage differences between December 1, 2010 rates and loss costs including and excluding effects of Court of Chancery Decision. | |
| Exhibit 47 | Percentage changes from current rates and loss costs by classification. Both the current and proposed rating values reflect the Court ordered reductions. | |
| Exhibit 1 - Unlimited Losses | Table I - Summary of Financial Call Data | |
| Exhibit 2 - Unlimited Losses | Paid and Incurred Loss Development and Trend | |
| Exhibit 2a - Unlimited Losses | Graphs of Selected Loss Development Projections | |
| Exhibit 3 - Unlimited Losses | Measures of Goodness of Fit in Trend Calculations Using Severity Ratios | |
| Exhibit 6 - Unlimited Losses | Retrospective Test of Trend Projections for Severity Ratios | |
| Manual Language: Delaware Construction Classification Premium Adjustment Program - Calendar Quarters for Qualifying Wages | ||
| Manual Language Pertaining to Auditable Payrolls | ||
| Completed Copies of the Following Property & Casualty Filing Forms: Filing Fee Form State Specific Requirements Property & Casualty Transmittal Document Property & Casualty Rate / Rule Filing Schedule |
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| Filing No. 1105 - Amendment of October 28, 2011 | ||
| Filing Letter | ||
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Summary of Material for Modification of Experience ("Brown Book") |
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| Class book | ||
| Indicated Change in Residual Market Rate and Voluntary Market Loss Costs. | ||
| Exhibit 20 | Review of Experience Rating Plan Parameters. | |
| Exhibit 27 | Manual Rates, Loss Costs and Expected Loss RatesNote: See October 28, 2011 Amendment, Exhibit 41 for Final Rating Values. | |
| Exhibit 28 | Index and Supporting Classification Exhibits. | |
| Exhibit 30 | Distribution of Residual Market Rate Changes. | |
| Exhibit 31a | Summary of Indicated and Proposed Residual Market Rates by Class Code. | |
| Exhibit 31b | Summary of Indicated and Proposed Residual Market Rates by Percentage Change. | |
| Manual Rates, Loss Costs and Expected Loss Rates (including 5 percent reductions required by Court of Chancery Decision). | ||
| Exhibit 46 | Percentage changes in rates and loss costs between December 1, 2011 Compromise Rating Values and December 1, 2011 final Rating Values Reflecting Court Ordered Reductions. | |
| Exhibit 47 | Percentage changes from current rates and loss costs by classification. Both the current and proposed rating values reflect the Court ordered reductions. | |
| Completed Copies of the Following Property & Casualty Filing Forms: Filing Fee Form State Specific Requirements Property & Casualty Transmittal Document Property & Casualty Rate / Rule Filing Schedule |
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