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Workers' Compensation Claims (Tables)

6 Months Ended

Jun. 30, 2023

Text Block [Abstract]

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,
	2023				2022				2023				2022
Beginning balance
Workers' compensation claims liabilities	$	201,641			$	262,646			$	215,987			$	279,407
Add: claims expense accrual
Current period		3,482				4,541				7,844				8,825
Prior periods		(1,580	)			(6,458	)			(2,694	)			(9,377	)
		1,902				(1,917	)			5,150				(552	)
Less: claim payments related to
Current period		585				803				765				1,028
Prior periods		11,807				18,257				29,287				36,291
		12,392				19,060				30,052				37,319

Change in claims incurred in excess of retention limits		671				(159	)			737				(26	)

Ending balance
Workers' compensation claims liabilities	$	191,822			$	241,510			$	191,822			$	241,510
Incurred but not reported (IBNR)	$	90,053			$	124,320			$	90,053			$	124,320

Ratio of IBNR to workers' compensation claims liabilities		47	%			51	%			47	%			51	%

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
2023	No

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