Workers' Compensation Claims (Tables)

6 Months Ended

Jun. 30, 2022

Summarizes Aggregate Workers' Compensation Reserve Activity

The following table summarizes the aggregate workers’ compensation reserve activity (in thousands):

	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2022			2021			2022			2021
Beginning balance
Workers' compensation claims liabilities	$	262,646		$	362,663		$	279,407		$	357,746
Add: claims expense accrual
Current period		4,541			35,743			8,825			69,013
Prior periods		(6,458	)		(5,483	)		(9,377	)		(6,663	)
		(1,917	)		30,260			(552	)		62,350
Less: claim payments related to
Current period		803			3,927			1,028			4,979
Prior periods		18,257			73,240			36,291			99,005
		19,060			77,167			37,319			103,984

Change in claims incurred in excess of retention limits		(159	)		(23	)		(26	)		(379	)

Ending balance
Workers' compensation claims liabilities	$	241,510		$	315,733		$	241,510		$	315,733
Incurred but not reported (IBNR)	$	124,320		$	190,818		$	124,320		$	190,818

Ratio of IBNR to workers' compensation claims liabilities		51	%		60	%		51	%		60	%

Summary of Risk Retained by Insured Program after Considering Loss Portfolio Transfers and Current Insurance Arrangements

The following is a summary of the risk retained by the Company under its insured program after considering the effects of the loss portfolio transfers and current insurance arrangements:

Year	Claims risk retained
2014	No
2015	No
2016	No
2017	No
2018 ⁽¹⁾	No
2019 ⁽¹⁾	Yes
2020	Yes
2021 - Through June 30	Yes
2021 - July 1 and after	No
2022	No

(1) LPT 2 excluded approximately 10% of claims from 2018 and included an approximately offsetting amount of claims from 2019.