WCRIBMA

Aggregate Financial Data

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In accordance with Part II of the Massachusetts Workers' Compensation Statistical Plan, every insurance company authorized to transact the business of workers’ compensation insurance within the Commonwealth of Massachusetts shall file with the WCRIBMA complete aggregate financial data acknowledgment forms and data calls. Aggregate financial data is used in the following services:

Ratemaking
Actuarial analysis
Data review / reconciliations
Assigned Risk Pool participation ratios
WCRIBMA Assessments

Reporting Guidelines

The Massachusetts Workers’ Compensation Statistical Plan is to be used for assistance with reporting aggregate financial data.

Data/Forms Required

Call Number	Description	Due Date
	Financial Data Call Package Acknowledgment Form	End of February
2	Policy Year Data	March 15th
2A	Policy Year Residual Market Data	March 15th
2C	Policy Year Large Deductible Data	March 15th
2D	Policy Year “F” Classification Data	March 15th
2E	Policy Year Maritime Data	March 15th
3	Accident Year Data	April 1st
3A	Accident Year Residual Market Data	April 1st
3C	Accident Year Large Deductible Data	April 1st
4	Reconciliation Report	April 1st
5	Residual Market Direct Written Premium	April 1st
5A	Large Deductible Written Calendar Year Experience	April 1st
5B	Net Direct Written Premium	April 1st
6	MA Calendar Year Expense Data	May 15th
6A	Insurance Expense Exhibit	April 15th
7	Large Loss and Catastrophe Data	April 15th
	Aggregate Financial Call Acknowledgment Form	June 1st

Note: Acknowledgment forms and data calls outlined in Part II of the Statistical Plan are subject to fines in accordance with the Data Quality Compliance Programs.

Submission Requirements

All aggregate financial data and forms required in Part II of the Massachusetts Workers’ Compensation Statistical Plan must be submitted to WCRIBMA electronically. The only option for creating aggregate financial data is electronically via MAFDRA.

Electronic files - When reporting aggregate financial data, the Aggregate Financial Call Acknowledgment Form must be obtained from Part II Section III of the Massachusetts Workers’ Compensation Statistical Plan, the Insurance Expense Exhibit is a copy of the same exhibit reported to the NAIC, all other required forms and data templates must be obtained directly from MAFDRA. Details regarding the MAFDRA application can be found in the MAFDRA User Guide.

Questions relating to MAFDRA should be addressed to the Data Operations Department (DataOperations@wcribma.org)

Submission Processing – Overview

Aggregate Data Submission Processing - Overview of electronic aggregate data processing.

Data Reporter/WCRIBMA Action	MAFDRA Status (Carrier View)	MAFDRA Action
Data Reporter creates a Call Package Acknowledgement Form saves it.	Saved	MAFDRA saves changes made to the form.
Data Reporter sends a completed Call Package Acknowledgement Form.	Submitted	The Calls screen is populated with the following: ‘NIL’- A call filled with zeros is created for all calls without a check mark and given a status of NIL. ‘Not Submitted’ - All calls with a check mark are given an initial status of Not Submitted.
WCRIBMA opens the Call Package Acknowledgement Form for reviewing.	Under Review	N/A
WCRIBMA closes the Call Package Acknowledgement Form.	Closed	N/A
Data Reporter creates a Call and saves it.	Saved	MAFDRA saves changes made to the call.
Data Reporting sends a Call.	Submitted	N/A
WCRIBMA opens the sent call for reviewing.	Under Review	N/A
WCRIBMA questions data reported.	Criticism	MAFDRA sends an email notification to the data reporter with details regarding the data in question.
Data Reporter sends in explanations and/or resubmits data for review.	Criticism	N/A
WCRIBMA closes the call.	Closed	MAFDRA sends an email notification to the data reporter announcing that data issues on the call have been resolved.

Aggregate Financial Data Editing

All aggregate financial data submissions received at the WCRIBMA are subject to editing to evaluate the reported data for timeliness, accuracy, completeness, and reasonability. Some edits fail as the result of errors in data submission, while others are the result of atypical circumstances. Failed edits generally require the resubmission of corrected data. In some situations, for example atypical data, explanations may be approved.

Aggregate Financial Edits

Edit Notification

Data reporters are made aware of failed edits for a submission via:

MAFDRA

MAFDRA has a RunEdits function that produces a failed edit listing and is required prior to submission of call data. Data reporters can correct data errors and create edit notes to explain atypical situation before the call is sent through MAFDRA.

After the initial submission of a call, data reporters are also expected to monitor all submissions with a status of Criticism. Refer to RESPONDING TO A CRITICISM within the MAFDRA User Guide.
Email Notice from WCRIBMA (as needed)

Email notifications from WCRIBMA will be sent to data reporters, as needed, for situations that are not handled by MAFDRA.

Edit Explanations

Data reporters may send edit explanations to explain atypical data. All explanations must adequately explain the reason for the edit failure and are subject to WCRIBMA approval process.

Edit Notes can be added to failed edits prior to a call’s initial submission to the WCRIBMA.

Explanations can also be directed to the Data Operation staff member that sent a criticism via email.

Note: aggregate financial edits are subject to fines in accordance with the Data Quality Compliance Programs .

Resources

Manuals - Rates - Rating Values

Aggregate Financial Edits

Data Quality Compliance Programs

MAFDRA

MAFDRA User Guide