Exhibit_C_Incurred_vs._Paid_Exhibit.pdf
PDF 123 KB Posted
- Solicitation number
- RFP-1-26-12
- Issued by
- Brevard County, Florida
About this file
This document is an Incurred versus Paid Claims Exhibit for Brevard County Board of County Commissioners' Group Life and Disability insurance contract (Contract #641728). The exhibit presents comprehensive experience data across multiple coverage lines including Basic Life (with separate actives and retirees breakouts), Basic Accidental Death & Dismemberment (AD&D), Additional Life, Additional AD&D, Dependents Life, Short-Term Disability, and Long-Term Disability. The data spans three consecutive 12-month periods from December 1, 2022 through November 30, 2025, with cumulative totals provided for each coverage type. Coverage effective dates vary, with Basic Life effective April 1, 2008, and most supplemental coverages effective January 1, 2018.
The exhibit demonstrates the relationship between paid claims, reserve adjustments, and incurred claims across all product lines, providing actuarial analysis essential for rate-setting and renewals. Enrollment data shows relatively stable covered lives across the three-year period, with Basic Life covering approximately 3,900-3,950 actives and 45-46 retirees, while Additional Life coverage extends to approximately 1,850 members. Earned premiums total approximately $5.4 million across all lines over the three-year measurement period, with corresponding paid claims of approximately $4.5 million. The data reflects experience under a fully insured arrangement with Standard Insurance Company and serves as the baseline for evaluating renewal rates and performance metrics for the County's employee benefit programs.
View the file
Other files
Show all 30
On GovTribe
Work with this file
- Download the original file
- Contacts named in this file
- Similar government files
- Ask GovTribe AI about this file
Text version
Brevard County Board Of County Commissioners
Contract number - 641728
Coverage Effective Date: 4/1/2008
Basic Life
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 3,854 3,958 3,958 19,534
Earned Premium 254,948 280,550 310,400 1,312,895
Paid Claims 493,440 247,300 432,400 1,173,140
Conversions 0 0 0 0
Change in Reported Reserves 13,426 -80,066 -60,958 -114,763
Change in IBNR Reserves 2,817 5,719 3,442 12,710
Incurred Claims 509,683 172,953 374,884 2,355,427
* Data pulled from end of period
Totals
Coverage Effective Date: 4/1/2008
Basic Life - Actives
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 3,809 3,912 3,913 19,398
Earned Premium 229,747 256,716 287,537 1,240,997
Paid Claims 483,440 242,300 407,400 1,133,140
Conversions 0 0 0 0
Change in Reported Reserves 13,426 -80,066 -60,958 -114,763
Change in IBNR Reserves 2,535 5,147 3,098 11,512
Incurred Claims 423,643 167,953 425,924 1,031,087
Coverage Effective Date: 4/1/2008
Basic Life - Retirees
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 45 46 45 136
Earned Premium 25,201 23,834 22,863 71,898
Paid Claims 10,000 5,000 25,000 40,000
Conversions 0 0 0 0
Change in Reported Reserves 0 0 0 0
Change in IBNR Reserves 282 572 344 1,198
Incurred Claims 25,000 5,000 10,000 40,000
Coverage Effective Date: 1/1/2018
Basic AD&D
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 3,808 3,910 3,912 19,299
Earned Premium 39,185 43,085 47,187 201,974
Paid Claims 46,000 0 0 46,000
Conversions 0 0 0 0
Change in Reported Reserves 0 0 0 0
Change in IBNR Reserves 121 295 158 611
Incurred Claims 46,121 295 158 46,611
Coverage Effective Date: 1/1/2018
Additional Life
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 1,834 1,861 1,853 9,143
Earned Premium 598,174 596,702 604,383 2,951,715
Paid Claims 328,400 410,000 384,800 2,348,200
Conversions 0 0 0 0
Change in Reported Reserves 17,600 -140,860 -164,120 -159,952
Change in IBNR Reserves -1,842 -42,255 40,535 -10,389
Incurred Claims 344,158 226,885 261,215 2,177,859
Coverage Effective Date: 1/1/2018
Additional AD&D
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 1,840 1,861 1,853 9,150
Earned Premium 37,377 51,201 24,583 191,504
Paid Claims 0 0 0 0
Conversions 0 0 0 0
Change in Reported Reserves 0 0 0 0
Change in IBNR Reserves -208 16,175 -15,981 -90
Incurred Claims -208 16,175 -15,981 -90
Coverage Effective Date: 1/1/2018
Dependents Life
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 1,086 1,033 1,013 5,456
Earned Premium 75,335 75,797 71,585 377,057
Paid Claims 90,000 185,000 80,000 525,000
Conversions 0 0 0 0
Change in Reported Reserves 0 0 0 0
Change in IBNR Reserves -320 -41 -111 -1,010
Incurred Claims 89,680 184,959 79,889 523,990
Coverage Effective Date: 1/1/2018
Short Term Disability
Experience: Paid Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 1,338 1,396 1,437 6,772
Earned Premium 342,518 370,814 383,465 1,722,453
Paid Claims 215,661 223,856 194,573 1,097,671
FICA 0 0 0 596
Change in Reported Reserves 0 0 0 0
Change in IBNR Reserves 4,392 4,542 2,958 14,099
Incurred Claims 220,053 228,398 197,531 1,112,366
Coverage Effective Date: 1/1/2018
Long Term Disability
Experience: Incurred Basis
From 12/1/2022 12/1/2023 12/1/2024
Through 11/30/2023 11/30/2024 11/30/2025
Lives * 1,503 1,532 1,507 7,618
Earned Premium 464,536 487,041 479,238 2,317,637
Paid Claims 165,888 21,369 24,854 417,707
FICA 0 0 0 0
Change in Reported Reserves 142,043 0 207,019 362,852
Change in IBNR Reserves 0 0 275,640 275,640
Incurred Claims 307,932 21,369 507,513 1,056,200
| BL |
| BL - Act |
| BL - Ret |
| BA |
| AL |
| AA |
| DL |
| ST |
| LT |
File details come from the government source that posted it. Updated .