Financial Data Reporting
Every insurance company authorized to transact the
business of workers' compensation insurance within the Commonwealth
of Massachusetts shall file with the WCRIBMA year end aggregate financial
data in accordance with the instructions contained in Part II –
Aggregate Financial Reporting of the MA Workers' Compensation Statistical
Plan (MA Stat Plan). The Financial Data Reporting Section aims to
provide data reporters access to financial data reporting resources
necessary to report accurate data in a timely manner.
DATA REPORTING NOTES
During 2014 the WCRIBMA will be collecting
2013 calendar year data.
Reporting Schedule for calls valued as of 12/31/2013 to
be reported during 2014:
|FORMS / CALLS REQUIRED
|Financial Data Call Package Acknowledgment Form
|Call # 2, 2A, 2C, 2D, and 2E
|Call # 3, 3A, 3C, 4, 5, 5A and 5B
|Call # 6A and 7
|Call # 6
|Aggregate Financial Call Acknowledgment Form
FINANCIAL DATA CALL PACKAGE ACKNOWLEDGMENT FORM
This form is required from all companies authorized to transact
the business of workers' compensation insurance within the Commonwealth
of Massachusetts even if there is no experience to report. It requires
companies to indicate which calls the WCRIBMA should expect and
who the WCRIBMA should contact with questions. Please note that
MAFDRA will not allow data reporters to create financial data calls
without this form being submitted. The form for this acknowledgment
is available within MAFDRA. The Financial Data Call Package
Acknowledgment Form must be submitted via MAFDRA no later than February
AGGREGATE FINANCIAL CALL ACKNOWLEDGMENT FORM
This form is separate and distinct from the Financial Data Call
Package Acknowledgment Form noted above. It is required from all
companies reporting aggregate financial data to the WCRIBMA. It
must be signed by a designated contact that will be responsible
for attesting to the accuracy of the data submitted. Please see
Section II - General Instructions and Section
V - Data Quality Compliance Programs of the MA Stat Plan
for details and fines associated with this form. The form for this
acknowledgment is provided within MAFDRA. The Aggregate
Financial Call Acknowledgment Form must be submitted via MAFDRA
no later than June 1, 2014.
The MA Stat Plan provides a listing of all required calls in addition
to other necessary information.
Part II - Massachusetts
Workers’ Compensation Statistical Plan
Part II of the Stat Plan provides General Instructions, Definitions,
Annual Calls Descriptions / Instructions, Data Quality Compliance
Program, and Examination and Reconciliation information for annual
data calls. Data reporters should review, Part II – Aggregate
Financial Reporting, of the MA Stat Plan prior to submitting financial
data to the WCRIBMA.
Take-Out Spreadsheet Instructions
The WCRIBMA will provide companies with a listing of policies removed
from the Massachusetts Assigned Risk Pool. Companies that receive
a listing are to inform the WCRIBMA of participation or non-participation
in the MA Take-Out Program. Instructions for doing so are included.
All calls required in Part II of the MA Stat Plan, and the acknowledgment
forms must be transmitted via MAFDRA (the only source for downloadable
forms necessary to submit calls and acknowledgment forms).
Please review this user's guide prior to using MAFDRA. This guidebook
is designed to help data reporters become familiar with the Massachusetts
Financial Data Reporting Application (MAFDRA).
MAFDRA is an on-line reporting application designed to improve the
timeliness and quality of data submissions. In order to access MAFDRA
you will need a User ID and a Password. All data reporters who accessed
MAFDRA last year should continue to use the User ID and Password
already established. New data reporters must contact the Data Operations
Department at the Bureau to obtain initial login information.
Companies with experience to report are required to file the
Financial Data Call Package Acknowledgment Form and calls via
Companies without experience to report are only required to
file the Financial Data Call Package Acknowledgment Form via