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Workers' Compensation Claims (Tables)

9 Months Ended

Sep. 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								Nine Months Ended
	September 30,								September 30,
	2023				2022				2023				2022
Beginning balance
Workers' compensation claims liabilities	$	191,823			$	241,510			$	215,987			$	279,407
Add: claims expense accrual
Current period		3,792				4,854				11,636				13,678
Prior periods		(4,098	)			(1,360	)			(6,792	)			(10,737	)
		(306	)			3,494				4,844				2,941
Less: claim payments related to
Current period		1,240				1,714				2,005				2,742
Prior periods		12,244				16,846				41,532				53,136
		13,484				18,560				43,537				55,878

Change in claims incurred in excess of retention limits		(231	)			899				508				873

Ending balance
Workers' compensation claims liabilities	$	177,802			$	227,343			$	177,802			$	227,343
Incurred but not reported (IBNR)	$	82,076			$	117,587			$	82,076			$	117,587

Ratio of IBNR to workers' compensation claims liabilities		46	%			52	%			46	%			52	%

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.