Workers' Compensation Claims (Tables)

3 Months Ended

Mar. 31, 2022

Summarizes Aggregate Workers' Compensation Reserve Activity

The following table summarizes the aggregate workers’ compensation reserve activity (in thousands):

	Three Months Ended
	March 31,
	2022			2021
Beginning balance
Workers' compensation claims liabilities	$	279,407		$	357,746
Add: claims expense accrual
Current period		4,284			33,270
Prior periods		(2,919	)		(1,180	)
		1,365			32,090
Less: claim payments related to
Current period		225			1,050
Prior periods		18,034			25,767
		18,259			26,817

Change in claims incurred in excess of retention limits		133			(356	)

Ending balance
Workers' compensation claims liabilities	$	262,646		$	362,663
Incurred but not reported (IBNR)	$	138,604		$	212,297

Ratio of IBNR to workers' compensation claims liabilities		53	%		59	%

Summary of Risk Retained by Insured Program after Considering Loss Portfolio Transfers and Current Insurance Arrangements

The following is a summary of the risk retained by the Company under its insured program after considering the effects of the loss portfolio transfers and current insurance arrangements:

Year	Claims risk retained
2014	No
2015	No
2016	No
2017	No
2018 ⁽¹⁾	No
2019 ⁽¹⁾	Yes
2020	Yes
2021 - Through June 30	Yes
2021 - July 1 and after	No
2022	No

(1) LPT 2 excluded approximately 10% of claims from 2018 and included an approximately offsetting amount of claims from 2019.