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2004 Annual Report and 2005-2007 Service Plan
Working to Make a Difference
Year at a Glance
|
| Operating context |
2004 (Fair value) |
2004 (Smoothed) |
2003 |
|---|---|---|---|
|
Insured employers |
179,257 |
179,257 |
173,008 |
|
Workers covered |
1.9 million |
1.9 million |
1.9 million |
|
Assessable payroll (thousands) |
$55,377,000 |
$55,377,000 |
$53,002,000 |
|
Assets (thousands) |
$9,851,307 |
$8,961,368 |
$8,480,408 |
|
Funded status |
114% |
104% |
100% |
|
Premium income (thousands) |
$1,175,189 |
$1,175,189 |
$1,077,383 |
|
Investment income (thousands) |
$455,516 |
$515,535 |
$495,937 |
|
Claim costs (thousands) |
$1,215,865 |
$1,215,865 |
$1,288,386 |
|
Surplus from operations (thousands) |
$279,859 |
$339,878 |
$154,575 |
| Published premium collection rate | $1.91 |
$1.91 |
$1.92 |
| Actual final collected premium rate (estimated) | $1.96 |
$1.96 |
$1.94 |
| Claim statistics | 2004 | 2003 | |
|
Claims first reported |
156,864 |
152,106 |
|
|
Claims first paid |
121,440 |
120,470 |
|
|
Claims disallowed |
6.0% |
5.9% |
|
|
Fatal claims accepted |
134 |
170 |
|
|
Total days lost from work |
2,762,021 |
2,765,230 |
|
| Demographics* | 2004 | 2003 | |
|
Injured workers |
60,160 |
58,834 |
|
|
Male injured workers |
42,440 (71%) |
41,274 (70%) |
|
|
Female injured workers |
17,720 (29%) |
17,560 (30%) |
|
|
Average age of injured worker |
39 |
39 |
|
|
Number of young workers injured (under age 25) |
9,360(16%) |
8,990 (15%) |
|
|
Number of older workers injured (age 55+) |
6,185 (10%) |
5,960 (10%) |
|
| Top five injuries (by claims first paid)* | 2004 | 2003 | |
|
Strains (other than back strains) |
18,460 (31%) |
18,080 (31%) |
|
|
Back strains |
14,370 (24%) |
14,060 (24%) |
|
|
Cuts |
6,790 (11%) |
6,640 (11%) |
|
|
Contusions |
6,510 (11%) |
6,060 (10%) |
|
|
Fractures |
4,101 (7%) |
3,960 (7%) |
|
*Data excludes health-care-only claims.