Workers Compensation Funding
Are you a self-insured business, municipality or other entity in Ohio? CANARY helps self-insured entities in Ohio analyze their unpaid liabilities and other self-insurance programs. Ohio has a unique Workers Compensation system – we are actuaries centrally located in Ohio. We understand the nuances of this system and your specific needs as an Ohio self-insured. We calculate unpaid liability estimates of your Workers Compensation and other Liability exposure, and we can help you assess the effectiveness of your Workers Compensation programs such as return-to-work programs.
How We Do It
The cost of a Work Comp claim is based on many factors. CANARY's claim reserving model considers all aspects of the claim - Injury Type, Body Part, and distribution of Medial and Lost Time payments - all can be major drives of a claim that won't be identified in your average actuarial reserve analysis. We determine the appropriate claim life for your open claims, and model the cost schedule for all your claims to their final closing date.
Claims data can be messy. Missing, incomplete, or unreliable data fields are not uncommon - however, you still want to get as much vale as possible from the information you have. Our Actuaries use techniques to "clean" your data and prepare it for statistical analysis.
CANARY is a proud member of the Ohio Self-Insurers Association.