Consecutive Years of Member Dividends – 11
On 12/31/24, our CFO was busy that evening transmitting to our actuaries our entire claims history. That data included date of injury, what was paid so far, and our estimate of what remains to be paid on every claim since 2006. There is lots of detail to send. This data is then sorted by our actuary and trended to get an estimate on the final claims costs for claims that may have just happened in 2024. By getting that assessment of the past 18 years’ worth and applying it to the known and unknown data of 2024, they come up with a final estimate of claims cost for 2024. This actuarial process takes about three weeks and involves them sending it to a second actuary to do a peer review of the entire calculation and data. The net result of this three-week project is a 110-page report that gives MTM the most scientific basis of plugging numbers into our 2024 financial statement. As a mutual insurer, for 11 years it has been the Board of Directors position that profits get returned to our members.
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