Specifications include, but are not limited to: CIS is seeking an actuary to provide the following professional actuarial and risk management services and advice for our Property/Casualty programs. We are not seeking services for our Benefits program at this time. The successful vendor shall provide CIS with the following: 1. CIS administers three Property/Casualty Funds: a. Liability b. Property c. Workers’ Compensation - in third year of runout. The Liability Fund has three lines of coverage: liability, employment (EPLI) and auto liability. For each line of coverage, provide the funding estimates and estimated liability for unpaid loss and loss adjustment expense (LAE). The Property Fund has two lines of coverage: property and auto physical damage, each needing funding estimates and estimated liability. For all lines, provide historical trends, exposure trends, and loss triangles. 2. The amount of funds CIS should have available for each individual line of coverage by coverage year in order to adequately fund self-insured losses incurred through the report date. 3. An Excel workbook showing the underlying data and projections by coverage and year. 4. Estimated average duration of reserves as of June 30 of each year. 5. The self-insured losses likely to be incurred and the recommended funding for claims incurred for each line of coverage in each of the subsequent two fiscal years beginning July 1, including separate analysis for public safety/law enforcement, general, and employment liability lines. 6. Model loss funding estimates at various self-insured retention levels, as requested. 7. The amounts likely to be collected under the alternate premium plans offered by CIS. 8. The required GASB exhibits which include a reconciliation of claims liabilities by type of coverage and a loss development profile for each coverage year. 9. The impact of these projections on an undiscounted and discounted basis and at the following contingency margins both by individual line of coverage, and as a group: ▪ Ultimate Expected Payment Level ▪ 65% Confidence Level ▪ 75% Confidence Level ▪ 90% Confidence Level ▪ 95% Confidence Level; Discussion drafts of the annual actuarial study will be presented to the CIS Executive Director for CIS staff review by August 31st each year. The final report is due by October 15th of each year.
