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Property/Casualty Checklists

Loss Cost Multiplier Form

Loss Cost Filing Adoption and Worksheet

Alaska Division of Insurance is adopting the NAIC Casualty Actuarial and Statistical (C) Task Force’s revised loss cost multiplier (LCM) filing form. This form is a required filing form when insurers are filing to use an advisory organization’s loss costs.

The new LCM form has the following benefits:

  • The new form combines the multiple prior forms into one document:
    • The form can be used for any property and casualty (P&C) line of business (including workers’ compensation).
    • It requires information about the advisory organization’s filing reference numbers, so the separate form is no longer needed.
    • It includes the optional expense constant, so the separate form is no longer needed.
  • Modifications are made to the form based on regulatory experience with reviewing the former LCM forms. The form shows information for the prior filing in addition to the current filing so the reviewer can focus on the changes being proposed.
  • The premium discount, when applicable, is now calculated as an expense alongside commissions and other expenses, as opposed to an after-the-fact, off-balance adjustment to the LCM.

Alaska Rule of Civil Procedure 82

Terrorism Risk Insurance Act, as Amended