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Workers' Compensation Claims (Tables)

9 Months Ended

Sep. 30, 2022

Text Block [Abstract]

Summarizes Aggregate Workers' Compensation Reserve Activity

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


	Three Months Ended								Nine Months Ended
	September 30,								September 30,
	2022				2021				2022				2021
Beginning balance
Workers' compensation claims liabilities	$	241,510			$	315,733			$	279,407			$	357,746
Add: claims expense accrual
Current period		4,854				2,394				13,678				71,407
Prior periods		(1,360	)			(823	)			(10,737	)			(7,486	)
		3,494				1,571				2,941				63,921
Less: claim payments related to
Current period		1,714				6,149				2,742				11,129
Prior periods		16,846				14,018				53,136				113,022
		18,560				20,167				55,878				124,151

Change in claims incurred in excess of retention limits		899				(138	)			873				(517	)

Ending balance
Workers' compensation claims liabilities	$	227,343			$	296,999			$	227,343			$	296,999
Incurred but not reported (IBNR)	$	117,587			$	162,382			$	117,587			$	162,382

Ratio of IBNR to workers' compensation claims liabilities		52	%			55	%			52	%			55	%

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.