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Actuary reports higher incurred-but-not-reported estimate; board accepts reserve recommendation
Summary
An actuarial update raised Mohave County's IBNR (incurred-but-not-reported) estimate to about $3.1 million and recommended a total reserve near $10.5 million; the board reviewed the methodology, discussed monitoring and accepted the recommendation.
Mohave County trustees accepted an actuarial update that raised the trust's incurred-but-not-reported (IBNR) estimate to roughly $3.1 million and recommended a total reserve (IBNR plus contingency for claim fluctuation) of about $10.5 million.
Chris Marshall, the actuary, said two primary factors drove the roughly 14% increase in the IBNR from the prior…
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