Financial Data Call 

All calls must be reported through the financial data manager (FDM) and cannot be faxed or emailed. Revisions to those calls must be submitted through FDM (for calls valued as of December 1, 2019 and subsequent). 

FDM is an internet-based system that allows carriers to enter, edit, and submit all financial calls, forms, and schedule W materials to the PCRB. Access to selected documents, primarily schedule W, will also be available to the Pennsylvania insurance department and the coal mine compensation rating bureau of Pennsylvania.

All calls, the acknowledgement form, and statutory page 14 must be reported through FDM. Schedule W, schedule W – coal, and schedule W – limitations affecting unpaid claims estimates (limitations) are also to be submitted through FDM. Once submitted, schedule W and limitations will be available to both the PCRB and the Pennsylvania insurance department. Schedule W – coal and limitations will be available to the PCRB, Pennsylvania insurance department, and the coal mine compensation rating bureau of Pennsylvania.

All calls (except calendar-accident year calls #1A, #8A, #9A, and #15A), forms, and schedule W (excluding schedule W – coal and schedule W – limitations) are subject to the provisions of the FDIP. The acknowledgment form is subject to late reporting fees, while calls #1, #4, #8, #9, #14, #15, schedule W (excluding schedule W – coal and schedule W – limitations), and statutory page 14 are subject to late reporting, resubmission, and failed edit assessments. Schedule W – coal and schedule W – limitations are not subject to any assessments.

Yes. Experience for policy years continues to develop for many years after those policies expire. While a carrier may not have any new business, the current calendar year will generally reflect activity on those older years. Tracking of that activity is a crucial part of the PCRB’s analysis in the preparation of rate and/or loss cost filings.

Yes. A carrier may change their designated contact person at any time. Simply notify the PCRB and we will email you the forms to complete. Once we receive the completed form, we will update our records accordingly. Otherwise, all correspondence will continue to be sent to the contact person on record.

No. We encourage all carriers to attach additional information at the time of submission. FDM provides a text box on the reconciliation pages and also has a create notes section for carriers to provide explanations for any imbalances or inconsistencies. In most cases, a simple paragraph is sufficient and a PCRB criticism letter may be avoided.

Copies of the instructions for all calls can be accessed and/or printed from the PCRB’s website. All forms must be accessed through FDM.

Yes. You can access FDM through the PCRB’s application login link.

Under the program, assessments for lateness are levied on carriers for financial calls not received by the PCRB through the PCRB’s financial data manager (FDM) prior to or on the required due date. In addition, for most calls, any resubmission of data after the due date, whether requested or submitted voluntarily, carries an assessment charge. Assessments for data quality for certain calls are based on various levels of editing, as described in the FDIP. Examples of edit descriptions can be found in the FDIP included within the financial call package.

Calls #1, #4, #8, #9, #14, #15, schedule W, and statutory page 14 are subject to resubmission and quality edit charges. Schedule W – limitations affecting unpaid claims estimates and schedule W – coal are not subject to any charges. Calendar-accident year calls #1A, #8A, #9A, and #15A are not subject to the FDIP for 2023 financial call reporting.

Once the carrier receives a criticism letter from the PCRB, it is immediately subject to the assessment schedule, which has no associated charges for days 1 through 10, until revisions are submitted or an acceptable explanation is received. If additional criticism letters are required after the carrier is subject to the assessment schedule, the day count resumes, rather than restarting, on the date the new criticism letter is received. Refer to the FDIP for complete details.

The carrier is responsible for providing explanations and/or corrections for failed edits and inquiries. It is the carrier’s responsibility to be aware that assessment days and fines are accruing and that explanations and/or resubmissions are required as soon as possible. Assessments continue to accrue until all items in a criticism letter have been addressed.

Yes. Total assessments are subject to a maximum of 50% of the second prior calendar year direct net written premium as reported on statutory page 14. If application of the assessment schedule produces assessments in excess of this amount, the maximum assessment applies. Assessments also stop accruing after the 55-day maximum shown on the assessment schedule. Carriers are still expected to address failed edits and criticism letters after the maximum assessment is reached.

Carriers have 31 days after receipt of the PCRB notice of assessments to appeal any assessment. Appeals must be submitted in writing and must include all factors the carrier wishes to be considered in the review. Refer to the FDIP for additional detail.