2018/05/16 Council Agenda Packet

23. Any optional services that maybe available to the client will be negotiated independently of this service agreement. B. Financial Analysis,Planning and Reporting 1. Define objectives and initiatives through strategic planning to assist the City in controlling/reducing claim expenditures. 2. Provide ongoing quarterly analysis of claim experience. 3. Provide annual financial reporting that includes,at a minimum,the following information: a. Claims and demographic data collection. b. Claims experience(actual versus expected). c. Analysis of historical data to develop and validate trends. d. Projection of expenses for the next fiscal year. e. Calculation of appropriate reserve levels for self-insurance on an on-going basis. f. Determination of funding requirements to develop a long term strategic plan for the workers' compensation program. 4. Prepare paid and incurred loss projections annually,or as requested. 5. Prepare an annual report,including claims summary,trends and developments affecting the City. The report shall include recommendations for improvements in the program based on industry benchmarks and City data. 6. Promptly report to City of Everett's excess workers' compensation liability carrier per the terms of the policy liability agreement(to be provided to the TPA). a. Set reserves on an"ultimate cost of loss"basis. 7. Prepare written status reports as requested. Update those reports quarterly or more frequently if there are significant developments. C. Compliance 1. Administer the program in accordance with Washington State Iaw. 2. Provide updates and ongoing assistance with Federal and State reporting and compliance as required by outside agencies. Assist the City in complying with all related Federal and State laws and regulations,as well as contract requirements. Page 14 Workers Compensation PSA 2017 35