West Virginia Offices of the Insurance Commissioner 2009 Annual ...

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WEST VIRGINIA OFFICES OF THE INSURANCE COMMISSIONER SCHEDULE OF NET ASSETS WORKERS' COMPENSATION INFORMATION June 30, 2009 (In Thousands) WC Old Fund Coal Workers' Uninsured Self-Insured Private Carrier Debt Reduction Pneumoconiosis Fund Funds Fund Total Assets: Current Assets: Cash and Cash Equivalents 800,819 224,405 8,590 6,971 - 1,040,785 Receivables, Net: Statutory Allocations 8,633 - - - - 8,633 Assessments - 104 - - 104 Employer Surcharge 8,903 - - - - 8,903 Premiums 2,255 - - - - 2,255 Surplus Note 43,500 - - - - 43,500 Other 51 - - 51 Total Current Assets 864,161 224,405 8,694 6,971 - 1,104,231 Total Assets 864,161 224,405 8,694 6,971 - 1,104,231 Liabilities: Current Liabilities: Estimated Liability for Unpaid Claims and Claim Adjustment Expense 234,700 10,500 300 - - 245,500 Excess Deposits - - - - - - OPEB Liability 81 - - - - 81 Accrued Expenses and Other Liabilities 163 3 2 53 - 221 Total Current Liabilities 234,944 10,503 302 53 - 245,802 Noncurrent Liabilities: Estimated Liability for Unpaid Claims and Claim Adjustment Expense 1,928,800 137,400 3,800 400 - 2,070,400 Total Noncurrent Liabilities 1,928,800 137,400 3,800 400 - 2,070,400 Total Liabilities 2,163,744 147,903 4,102 453 - 2,316,202 Net Assets: Restricted for: Coal Workers' Pneumoconiosis - 76,502 - - - 76,502 Uninsured Fund - - 4,592 - - 4,592 Self-Insured Fund - - - 6,518 - 6,518 Private Carrier Guaranty Fund - - - - - - Unrestricted (1,299,583) - - - - (1,299,583) Total Net Assets (1,299,583) 76,502 4,592 6,518 - (1,211,971) 14
APPROPRIATED APPROPRIATED EXPENDITURE SCHEDULE EXAMINATION FUND 7150 FISCAL YEAR 2010 JULY 1, 2009 - JUNE 30, 2010 Personal Services 505,497 Increment 5,812 Employee Benefits 147,384 Current Expenses 1,489,260 $ 2,147,953 ACTUAL EXPENDITURES Personal Services 262,053 Increment 3,000 Employee Benefits 71,460 Current Expenses 393,514 TOTAL EXPENDITURES 730,027 APPROPRIATION BALANCE Personal Services 243,444 Increment 2,812 Employee Benefits 75,924 Current Expenses 1,095,746 TOTAL FUNDS REMAINING 1,417,926 $ 2,147,953 ASSESSMENT FEES COLLECTED JULY 1, 2009 TO JUNE 30, 2010 $ 941,132 15
Page 1 and 2: West Virginia Offices of the Insura
Page 3 and 4: Executive Summary This report to th
Page 5 and 6: TABLE OF CONTENTS SECTION 1 GENERAL
Page 7 and 8: Admitted Assets, Liabilities, Commo
Page 9 and 10: Organizational Chart Virgil Helton,
Page 11 and 12: FEES AND TAXES COLLECTED DURING THE
Page 13: WEST VIRGINIA OFFICES OF THE INSURA
Page 17 and 18: SECTION 2 DIVISIONAL REPORTS 17
Page 19 and 20: An applicant must be a resident of
Page 21 and 22: Major Activities in 2009 The Plan
Page 23 and 24: Agents Licensing and Education Divi
Page 25: Workers’ Compensation Board of Re
Page 28 and 29: The focused settlement initiative h
Page 30 and 31: October 2008 November 2008 December
Page 32 and 33: Offices of the Insurance Commission
Page 34 and 35: January 2009 February 2009 March 20
Page 36 and 37: Representing Consumers in First and
Page 38 and 39: FIRST PARTY COMPLAINTS HANDLED BY T
Page 40 and 41: CERTIFICATE OF NEED - March 2009 FA
Page 42 and 43: Hospital Rate Review The Office of
Page 44 and 45: Consumer Service Division The Consu
Page 46 and 47: CONSUMER SERVICE COMPLAINTS CALENDA
Page 48 and 49: CONSUMER SERVICE COMPLAINTS CALENDA
Page 50 and 51: Employer Coverage Unit The Employer
Page 52 and 53: Financial Accounting Unit The Finan
Page 54 and 55: Financial Conditions Division The p
Page 56 and 57: FINANCIAL CONDITIONS DIVISION West
Page 58 and 59: FINANCIAL CONDITIONS DIVISION West
Page 60 and 61: WEST VIRGINIA ESSENTIAL PROPERTY IN
Page 62 and 63: 2009 Summary of West Virginia Opera
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American Retirement Life Insurance
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ADP Totalsource, Inc. d/b/a ADP Tot
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FINANCIAL CONDITIONS DIVISION Merit
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FINANCIAL CONDITIONS DIVISION Compa
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FINANCIAL CONDITIONS DIVISION Risk
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National Health Club Purchasing Gro
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FINANCIAL CONDITIONS DIVISION Name
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ADA Risk Purchasing Group, Inc. (Am
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FINANCIAL CONDITIONS DIVISION Liqui
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Office of Inspector General—Fraud
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The following chart depicts statist
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James R. Hiroskey Jr., age 25 of Lo
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Ramona Mack, age 40 of Winfield, pl
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Jennifer Jo & Matthew Nichols, ages
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Senate Bill 284 - Relating to Viati
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Senate Bill 537 - Relating to Worke
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Senate Bill 537 -continued §33-2-2
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House Bill 3047 - Clarifying that t
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114 CSR 42 - Continuing Education f
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09-EO-03 - Emergency Order entered
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DISCIPLINARY ACTIONS Individual Ins
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Market Conduct Unit Four (4) “Agr
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Employer Violator System (EVS) The
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MANAGED HEALTH CARE PLANS: The West
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A Client Reporting process was deve
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Non-Workers’ Compensation Matters
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Rates and Forms Division The Rates
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2009 Filings by Product Commercial
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Approved Rate Change History of Top
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Private Passenger Auto Market Share
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2009 West Virginia Market Share Rep
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Total for Top 10 Insurers 76.87% $4
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Admitted Assets, Liabilities, Net W
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Admitted Assets, Liabilities, Commo
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Domestic Property Insurers Common P
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Admitted Assets, Liabilities, Capit
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Admitted Assets, Liabilities, Capit
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