Pub. 1 2019 Issue 3

for 2017, 2016 and 2015 were used to calculate the experi- ence modification factor for the 2019 premium. The initial reserve is established when the claim is received at NHADA WCT. Taken into consideration when reserving is the type of injury, the possibility of surgery, lossed time from work and anticipated duration, the age of the employee, co-morbidities that may influ- ence recovery and the occupation. The initial reserve is truly an estimate of the cost of the claim. However, as the claim matures and the diagnosis and prognosis are clearer the reserve can be more accurate. Claims are reviewed within 21 days of receipt to pay or deny as required by the NH Workers Compensation Stat- ute; reserves are also reviewed at that time. They are reviewed every thirty days thereafter until the injured employee is fully recovered, all benefits are paid and the claim can be closed. Any reserve remaining when the claim is closed is returned to the member's account and is available for rebate, based on the actuary’s recom- mendations to the WCT Board, assuming that less money has been paid out than what was paid in as premium. The NHADA WCT Claims Manager reviews all open claims in March and June to ensure that claims are reserved to cover the ultimate cost of the claim. In addition to review- ing open claims during those months, the Claims Manager reviews reserves on all open claims in September and December to ensure that data provided to the actuary is accurate. Reserves are never discounted to take into con- sideration the possibility of prevailing at hearing or appeal or the possibility that an injured employee will not contest an appeal. If members have any questions relating to reserve estab- lished on cases, why claims are open or their loss runs please contact Pete Sheffer at 800-852-3372. When it’s time to sell your dealership or acquire a new one, you need a market-wise representative with a record of results and a reputation for excellence who will take your personal goals to heart and guide you safely through the entire process. IT’S NOT JUST BUSINESS. IT’S PERSONAL. Dealership Sales | Acquisitions | Evaluations 603 658 0004 | nancyphillips.com | auto@nancyphillips.com 111 WATER STREET, PO BOX 70, EXETER, NEW HAMPSHIRE 03833 East Coast European, LLC dba East Coast Automotive Sales and Service 15 Lafayette Road North Hampton, NH 03862 Phone: (603) 436-0100 Owner: Marc Gagne Noyes Chevrolet LLC 254 North Main Street Colebrook, NH 03576 Phone: (603) 237-5050 Owner: Donald Noyes Albrecht Autoland Corp. dba Albrecht Autoland North 105 Daniel Webster Highway Nashua, NH 03060 Phone: (603) 891-4600 Owners: George Albrecht Sr. & George Albrecht Jr. NH Motorsports 22 Gauthier Drive, Unit C Epsom, NH 03234 Phone: (603) 736-7300 Owner: Matthew Little NewMembers N E W H A M P S H I R E 11