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Committee hears large-claim count and IBNR estimate for December
Summary
Large-claim tracking showed 10 claims exceeded 50% of the stop-loss deductible in December 2024; two claims surpassed the stop-loss limit. The committee heard that the December IBNR estimate was $1,067,047.
LP Insurance reported that large-claim tracking — which begins at about 50% of the stop-loss deductible ($275,000) — identified 10 large claims in December that exceeded roughly $137,500. Two of those claims have exceeded the stop-loss limit and qualify for reimbursement under the stop-loss arrangement.
The committee was also presented with the December 2024 incurred-but-not-reported (IBNR) estimate of $1,067,047. Committee members noted that 2024 was not an unusually large claims year and that large-claim experience remained in line with prior-year averages.
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