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Workers’ Compensation Reinsurance

Willis Re has one of the largest workers’ compensation segments in the industry, comprising more than 35 individuals with a variety of skill sets and a deep working knowledge of the nuances of this long-tailed business.

Your team will be able to help you with challenges ranging from rating agency and capital management to managing earnings volatility and catastrophe management. Our services include:

  1. Market perspective

    • Monitoring reinsurance market trends to assist your risk management planning
    • Identifying and accessing key market resources that meet your needs and bring the greatest value
    • Market cycle analysis that is highly predictive of cycle changes in the primary market

  2. Financial Advisory

    • Forecasting management's strategic and tactical decisions on key financial statements, BCAR (Best Capital Adequacy Ratio) and Risk Based Capital scoring
    • Operating metrics and financial stability analysis
    • Rating agency advisory support including A.M. Best rating position analysis and relationship management
    • Peer benchmarking for financial, reinsurance, investment, expense, and accounting metrics

  3. Actuarial

    • Willis Re's credibility analysis that produces a tailored frequency/severity loss model
    • Simulation analysis to evaluate risk-return characteristics of various risk transfer strategies (reinsurance optimization)
    • Actuarial assistance in assessing the potential profitability of growth plans

  4. Catastrophe Analytics

    • Assessment of exposure to earthquake, terrorism and industrial accident using major catastrophe models
    • Assistance with rating agency questionnaires
    • Access to the SpatialKey geospatial platform for informative pictorial mapping of risk exposures, aggregate concentrations, producer footprint, and more

  5. Reinsurance contracts

    • Workers' compensation segment reviews for commercial viability and coverage enhancement opportunities
    • Workers' compensation contract writing reviews for regulatory compliance and contract wordings

  6. Capital Markets

    • Execution of the only major workers' compensation catastrophe bonds in the industry (four bonds placed to date)

  7. Enterprise Risk Management (ERM)

    • Formulation and implementation of ERM programs
    • Enhancement of existing ERM programs
    • Workshops/webinars for management/board

Related solutions

Insurance Consulting and Technology

Reinsurance


Related services

Reinsurance Actuarial and Financial Modeling

Willis Re’s Actuarial and Financial Modeling team pairs technical proficiency with practical business sense. We help insurers quantify the financial impacts of risk – and then go one step further, setting the analysis in the proper business context.

Catastrophe Analytics

In a changing world, being equipped with functional risk solutions to assess and quantify catastrophe risk is paramount. The Willis Re View of Catastrophe Risk evaluates the range of models and makes adjustments or builds new solutions when needed, helping our clients form their own view of risk.

Enterprise Risk Management

The risk landscape is constantly changing for insurers, their customers and value chains. Faced with the increasing speed and complexity of this change, insurers need continual vigilance to assess and manage risk effectively. Our combined technology and advisory services help insurers generate value from risk as well as manage it.

Insurance-Linked Securities at Willis Re

Complementing traditional reinsurance risk transfer solutions, Willis Re helps clients integrate ILS-backed capacity into our customers’ reinsurance and insurance programs.

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Related web site

National Council on Compensation Insurance (NCCI)

The National Council on Compensation Insurance (NCCI) has released a research brief on “Mega Claims” in workers’ compensation. These claims account for a very small portion of total claims but rack up major loss costs, mostly due to medical service costs. 

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