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Report to the New York Department of Financial Services
New York State Medical Indemnity Fund
4 th Quarter 2017 Actuarial Analysis
As of December 31 2017
March 2018
~ PINN ACLE ACTUARIAL RESOURCES INC
3109 Cornelius Drive
Bloomington IL 61704 3098072300
pinnacleactuariescom
Commitment Beyond Numbers
TABLE OF CONTENTS
Section
Purpose amp Scope 1
Executive Summary 2
Backgrou nd 4
Data Methods amp Assumptions 5
Discussion and Analysis 7
Number of Qual ifying Participants 7
M ortality Experience Life Expectancy 8
Actuar ia l Calculation of Estimated Fund Liabilities 9
Amount of Benefit s Paid 11
Patterns of Utilization 11
Benefit Payments and Inj ury Type 14
Inflationary Pat terns of Types of Services 16
Administrative Expenses 17
Impact of Ava ilable Health Insurance 17
Investment Earnings 18
Distribut ion amp Use 18
Reliances amp Limitations 19
EXHIBITS
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund 4th Quarter 2017 Actuarial Analysis
As of December 31 2017
Purpose amp Scope
Pinnacle Actuarial Resources Inc (ldquoPinnaclerdquo) had been retained by the New York State Department of
Financial Services (NYS DFS or ldquothe Departmentrdquo) to provide quarterly actuarial reports regarding the
experience of the New York State Medical Indemnity Fund (MIF or the Fund) This analysis evaluates
data for the Fund as of December 31 2017
sect69‐1019 of the New York State Department of Health Regulation states that the quarterly reports
should ldquoinclude a review of the various elements contributing to the amount of benefits paid by the
Fund and to the expenses of administration of the Fund includingrdquo
The number of qualifying plaintiffs
The mortality experience of the qualified plaintiffs
The amount of benefits paid by the Fund
The patterns of utilization of types of services provided
Inflationary patterns by types of services provided
The expenses of administration of the Fund
The impact of available health insurance on benefits paid by the Fund and
Investment earnings of the Fund
sect69‐1020 of the New York State Department of Health Regulation also requires an actuarial
calculation of the estimated liabilities of the Fund for the coming year resulting from the qualified
plaintiffs enrolled in the Fund
Commitment Beyond Numbers
New York State Medical Indemnity Fund-4th Quarter 2017 Page 2 March 30 2018
Executive Summary
Based on our review of avai lable information regarding the New York State Medical Indemnity Fund as
of December 31 2017 Pinnacle has arrived at a number of key conclusions
bull As of December 31 2017 the Fund had accepted 516 participants (511 living) with expected
future benefit payments of approximately $7288 mill ion and future administrative expenses of
$1147 million assuming a discount rate of 25 With a Fund ba lance as of December 31 2017
of approximately $2361 million this results in an unfunded liability for the Fund of
approximately $6074 million
o Tota l future lifetime benefits for the 511 living Fund participants without discounting is
estimated to be $1779 billion
o The current present va lue of future benefit payments of $7288 million does not
consider any additiona l enrollees that may be admitted to the Fund in the future
o Prior to the impact of legislation passed on December of 2016 each new participant
admitted to the Fund after June 30 2017 would increase the Fund s f uture benefits
payment liabilities by $335 mi ll ion on a nominal basis or a present value of $132
mi ll ion increasing at approximately the medical inflation rate of 35 annual ly from
March 31 2017
o On December 31 2016 new legislation was signed expanding eligibility for the Fund to
non-hospital births and significantly raising rei mbursement rates for the period from
July 1 2017 through December 31 2019 For new participants admitted duri ng this
period a priori estimates of future lifetime benefit payment liabilities increased to $362
million on a nominal basis or a present value of $152 mi ll ion These liabilities vary
depending on the amount of an individual participants benefits that are pa id during the
period of higher reimbursement rates
bull Prior to the beginning of the fisca l year the Fund was expected to have almost
one hundred th ree (10292) additional participants accepted between March 31
2017 and March 31 2018 These new participants were expected to add future
discounted benefits liabi lities of about $1550 million
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 3
March 30 2018
bull There were eleven (11) new participants to the Fund in the third quarter of fiscal
year 2017-18 approximately fifteen (15) less than expected for this period Prior
to this quarter quarterly new participant counts have varied between fifteen
(15) and th irty-five (35) in the last two years
bull The number of eligible participants is expected to continue increasing for at least
thirty years as more eligible participants are admitted to the Fund each year
bull Actual benefit payments in the th ird quarter of the 2017-18 fiscal year (10117-123117) as of
123117 were $754 million for a tota l of $21264 million paid so far in the 2017-18 fiscal year
Of these payments $114 mill ion was allocated back to the second quarter of the fiscal year
(7 117-93017) as there were no claims payments processed in September Expected benefit
payments in the remainder of the 2017-18 fisca l year are $17693 million Estimated tota l
benefit payments for the 2017-18 fiscal year (4117- 33118) are therefore $38957 mi ll ion
It is important to recognize that these amounts can vary significantly each quarter due to the
inherent uncertainty in benefit payments the effect of the legislative change on payments and
the transition to a new third party claim administrator in the current quarter
bull As of September 1 2017 the Funds claims handling is now performed by Public Consulting
Group (PCG) instead of Alica re This change decreased the administrative expenses of the Fund
on a per month per member basis Based on the current contract we expect $114 m illion to
be paid in administrative expenses over the remai nder of the 2017-18 fiscal year resu lting in
total administrative expenses for fiscal 2017-18 (including both Alicare and PCG) of $484
million
bull Exhibit 1 summarizes Fund payments by benefit type since 4th quarter of 2012
Compared to Virginia the Fund is having a substantially higher percentage of overall costs in
medical and hospital costs medical equipment and prescription drug costs and corresponding
lower percentages in nursing and long term care costs
bull As of December 31 2017 the number of participants that have received more than $1 million
in benefits payments is sixteen (16) Based on current annual severities by individual member
we expect eight (8) more members to cross this threshold in the next twelve months
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 4
March 30 2018
Background
The Medical Indemnity Fund was established in 2011 to provide a funding source for future health
care costs associated with birth-related neurological injuries Enrollees of the Fund are plaintiffs in
medica l malpractice actions who have received either court-approved settlements or j udgments
deeming the plaintiffs neurological impairments to be birth-related 1 More specifically a birthshy
related neurological injury is an inj ury to the brain or spinal cord that occurred in the course of
labor delivery or resuscitation or by the provision or non-provision of other medical services duri ng
the delivery admission 2 These injuries must result in a physical impairment a developmental
disability or both
Benefits provided by the Fund include
bull Medical Dental Surgical and Hospita l Care
bull Nursing and Custodia l Care
bull Prescription and Non-Prescription Drugs
bull Rehabilitation Services
bull Durable Medical Equipment and Assistive Technology
bull Certain Home and Vehicle Modifications
bull Other Health Care Costs for Medical Services and Supplies for Participants
The New York State Department of Financial Services (NYS DFS) serves as the administrator of the
Fund For the fi rst year of the MlFs operations Sedgwick CMS served as the Funds third party
administrators (TPA) For the second year of operations they were replaced by Alica re As of
September 1 2017 claims are now handled by Public Consulting Group (PCG) while Alicare continues
to work with Fund enrollment and case management Pinnacle serves as the actuarial advisors to the
Fund as well as the on ly other two state-run birth injury funds in the US the Virginia Birth Related
Neurologica l Injury Compensation Fund and the Florida Neurological Injury Compensation Association
The Fund currently is financed through a budget allocation from the state of New York Any party to a
medical professiona l liability claim can request for the judgment to reflect eligibility for participation in
the Fund Upon this judgment the participant is eligible to receive covered benefits from the Fund
1 Provided by NY DFS 2 htt pwwwdfsnygovinsurance mifmif_faqs ht m
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
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133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
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164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
171 70amp 2177~
401351 W4062amp2 deg 3amp1114
m 2529 60ll
Ill 101 413
211111 300 45
110508 2554
181 615
431 269 um m n
25471J 1ll 721 amp61 892
22301 151 593
m ~
69656 29373 5050 65147 3J7540
03929 1 165571 1 14amp1agt
1320U 116207 U5157 i 285
227482 40401 l72JU J27022 yen77991 264554
26C 161 l547gtJ 6 18 164 459971 175695 297615 1458J1
ml deg u osn
1218933 1 193tl
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120264 J31801 254 065 JSl 669 JSS6M
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llll 54812
mm U767 2564UI
1CIS91 427 l55
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ml ma 47626 21564 22710 11639
369731 3017 927857 17645 ll4911
157023 273743 45171 550020
40362 )70J5
w 487111
155 414 22670S
l 3S4514 149015
llll l oamp661
mm
1174 223 110973
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1 525926 763401 130411
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3082171 475424 1100574 4178 43 J820 ua 45SJ690
2 811 331 2916751 4839618
1140117 1 480454
1 311 684
ou
10
516 1sm 004
Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
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lll
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1609 3902
137049
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l30U1 74 960 mm 30164
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deg419251
1813023 1000636 219 596
1 72S676 3923 472
843272 1 80454
11111 390 4 233149
2J635l3 185690 6339199
l l087U 25$7 109
487637
2007 051 2J8765amp
2 944 150
deg 1 140
ml 563731
2574 090 2 20414amp
755amp133 90031
deg 607900 233amp152 164gt313 3295amp18 2 114 339
2284tn 4 83963amp
gu 3056lJ
2 471773 1 Cll7815
1 1m J 13951
n3791
1 1 90769 3 722974 29161Sl
Qll
16
311321 32VDI 2714240
900 1 lil5460
11293S6 3480047
7S962 3057251 33734-93
4 lUJJ6 2au na
ma filH7U
3657 115 3(1(8145
103Sfl743 1 Z30378
2003 100
3113 J67 3617271 31A3JJ 4 553690
~ 742SlS 9
4 012529
32J0451 ll 7U25a 1 3794$3
221amp rn 4 064970
932996 382031
llll 851 lni
412Sll
3 486654 118amp7481 1 49037 2 410COI
bull HOn1 1 008190 4478436
QU 4511
4 7236Z7 ll7MCIOS
1 622 2 269515 rnonz l l0057
llll 931 410 4 28858
4 ll6 105
14amp320U 1781 597
2Ml 926 4 7SU14
ms 9Sl 08amp
soan 1611 3ampamp
1 956amp55
10122n
mil 1ou ns 4688Sl
l ampU7294 2087 27
JW 1086949 6226162 50578
189008
ml
663Ul3 S 319139
ml 1216546 7001918
ma l 176J04 ll961
SW 1 3JJ154
Ia l 3JJ lS4
82S961 7001 94amp
S319al9 1U 01l6 2087267 3082271 4 1S4 424
1 100574
4 4784 36
3820U8 4 553 690
2811 JJamp
2916752 m om 180454 11828 1 371684
S6333S 74amp4S
76898S
362013 316amp9
910
nm004
Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
TABLE OF CONTENTS
Section
Purpose amp Scope 1
Executive Summary 2
Backgrou nd 4
Data Methods amp Assumptions 5
Discussion and Analysis 7
Number of Qual ifying Participants 7
M ortality Experience Life Expectancy 8
Actuar ia l Calculation of Estimated Fund Liabilities 9
Amount of Benefit s Paid 11
Patterns of Utilization 11
Benefit Payments and Inj ury Type 14
Inflationary Pat terns of Types of Services 16
Administrative Expenses 17
Impact of Ava ilable Health Insurance 17
Investment Earnings 18
Distribut ion amp Use 18
Reliances amp Limitations 19
EXHIBITS
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund 4th Quarter 2017 Actuarial Analysis
As of December 31 2017
Purpose amp Scope
Pinnacle Actuarial Resources Inc (ldquoPinnaclerdquo) had been retained by the New York State Department of
Financial Services (NYS DFS or ldquothe Departmentrdquo) to provide quarterly actuarial reports regarding the
experience of the New York State Medical Indemnity Fund (MIF or the Fund) This analysis evaluates
data for the Fund as of December 31 2017
sect69‐1019 of the New York State Department of Health Regulation states that the quarterly reports
should ldquoinclude a review of the various elements contributing to the amount of benefits paid by the
Fund and to the expenses of administration of the Fund includingrdquo
The number of qualifying plaintiffs
The mortality experience of the qualified plaintiffs
The amount of benefits paid by the Fund
The patterns of utilization of types of services provided
Inflationary patterns by types of services provided
The expenses of administration of the Fund
The impact of available health insurance on benefits paid by the Fund and
Investment earnings of the Fund
sect69‐1020 of the New York State Department of Health Regulation also requires an actuarial
calculation of the estimated liabilities of the Fund for the coming year resulting from the qualified
plaintiffs enrolled in the Fund
Commitment Beyond Numbers
New York State Medical Indemnity Fund-4th Quarter 2017 Page 2 March 30 2018
Executive Summary
Based on our review of avai lable information regarding the New York State Medical Indemnity Fund as
of December 31 2017 Pinnacle has arrived at a number of key conclusions
bull As of December 31 2017 the Fund had accepted 516 participants (511 living) with expected
future benefit payments of approximately $7288 mill ion and future administrative expenses of
$1147 million assuming a discount rate of 25 With a Fund ba lance as of December 31 2017
of approximately $2361 million this results in an unfunded liability for the Fund of
approximately $6074 million
o Tota l future lifetime benefits for the 511 living Fund participants without discounting is
estimated to be $1779 billion
o The current present va lue of future benefit payments of $7288 million does not
consider any additiona l enrollees that may be admitted to the Fund in the future
o Prior to the impact of legislation passed on December of 2016 each new participant
admitted to the Fund after June 30 2017 would increase the Fund s f uture benefits
payment liabilities by $335 mi ll ion on a nominal basis or a present value of $132
mi ll ion increasing at approximately the medical inflation rate of 35 annual ly from
March 31 2017
o On December 31 2016 new legislation was signed expanding eligibility for the Fund to
non-hospital births and significantly raising rei mbursement rates for the period from
July 1 2017 through December 31 2019 For new participants admitted duri ng this
period a priori estimates of future lifetime benefit payment liabilities increased to $362
million on a nominal basis or a present value of $152 mi ll ion These liabilities vary
depending on the amount of an individual participants benefits that are pa id during the
period of higher reimbursement rates
bull Prior to the beginning of the fisca l year the Fund was expected to have almost
one hundred th ree (10292) additional participants accepted between March 31
2017 and March 31 2018 These new participants were expected to add future
discounted benefits liabi lities of about $1550 million
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 3
March 30 2018
bull There were eleven (11) new participants to the Fund in the third quarter of fiscal
year 2017-18 approximately fifteen (15) less than expected for this period Prior
to this quarter quarterly new participant counts have varied between fifteen
(15) and th irty-five (35) in the last two years
bull The number of eligible participants is expected to continue increasing for at least
thirty years as more eligible participants are admitted to the Fund each year
bull Actual benefit payments in the th ird quarter of the 2017-18 fiscal year (10117-123117) as of
123117 were $754 million for a tota l of $21264 million paid so far in the 2017-18 fiscal year
Of these payments $114 mill ion was allocated back to the second quarter of the fiscal year
(7 117-93017) as there were no claims payments processed in September Expected benefit
payments in the remainder of the 2017-18 fisca l year are $17693 million Estimated tota l
benefit payments for the 2017-18 fiscal year (4117- 33118) are therefore $38957 mi ll ion
It is important to recognize that these amounts can vary significantly each quarter due to the
inherent uncertainty in benefit payments the effect of the legislative change on payments and
the transition to a new third party claim administrator in the current quarter
bull As of September 1 2017 the Funds claims handling is now performed by Public Consulting
Group (PCG) instead of Alica re This change decreased the administrative expenses of the Fund
on a per month per member basis Based on the current contract we expect $114 m illion to
be paid in administrative expenses over the remai nder of the 2017-18 fiscal year resu lting in
total administrative expenses for fiscal 2017-18 (including both Alicare and PCG) of $484
million
bull Exhibit 1 summarizes Fund payments by benefit type since 4th quarter of 2012
Compared to Virginia the Fund is having a substantially higher percentage of overall costs in
medical and hospital costs medical equipment and prescription drug costs and corresponding
lower percentages in nursing and long term care costs
bull As of December 31 2017 the number of participants that have received more than $1 million
in benefits payments is sixteen (16) Based on current annual severities by individual member
we expect eight (8) more members to cross this threshold in the next twelve months
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 4
March 30 2018
Background
The Medical Indemnity Fund was established in 2011 to provide a funding source for future health
care costs associated with birth-related neurological injuries Enrollees of the Fund are plaintiffs in
medica l malpractice actions who have received either court-approved settlements or j udgments
deeming the plaintiffs neurological impairments to be birth-related 1 More specifically a birthshy
related neurological injury is an inj ury to the brain or spinal cord that occurred in the course of
labor delivery or resuscitation or by the provision or non-provision of other medical services duri ng
the delivery admission 2 These injuries must result in a physical impairment a developmental
disability or both
Benefits provided by the Fund include
bull Medical Dental Surgical and Hospita l Care
bull Nursing and Custodia l Care
bull Prescription and Non-Prescription Drugs
bull Rehabilitation Services
bull Durable Medical Equipment and Assistive Technology
bull Certain Home and Vehicle Modifications
bull Other Health Care Costs for Medical Services and Supplies for Participants
The New York State Department of Financial Services (NYS DFS) serves as the administrator of the
Fund For the fi rst year of the MlFs operations Sedgwick CMS served as the Funds third party
administrators (TPA) For the second year of operations they were replaced by Alica re As of
September 1 2017 claims are now handled by Public Consulting Group (PCG) while Alicare continues
to work with Fund enrollment and case management Pinnacle serves as the actuarial advisors to the
Fund as well as the on ly other two state-run birth injury funds in the US the Virginia Birth Related
Neurologica l Injury Compensation Fund and the Florida Neurological Injury Compensation Association
The Fund currently is financed through a budget allocation from the state of New York Any party to a
medical professiona l liability claim can request for the judgment to reflect eligibility for participation in
the Fund Upon this judgment the participant is eligible to receive covered benefits from the Fund
1 Provided by NY DFS 2 htt pwwwdfsnygovinsurance mifmif_faqs ht m
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
171 70amp 2177~
401351 W4062amp2 deg 3amp1114
m 2529 60ll
Ill 101 413
211111 300 45
110508 2554
181 615
431 269 um m n
25471J 1ll 721 amp61 892
22301 151 593
m ~
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1320U 116207 U5157 i 285
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ml deg u osn
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ml ma 47626 21564 22710 11639
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ou
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
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10 19 17 31
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uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund 4th Quarter 2017 Actuarial Analysis
As of December 31 2017
Purpose amp Scope
Pinnacle Actuarial Resources Inc (ldquoPinnaclerdquo) had been retained by the New York State Department of
Financial Services (NYS DFS or ldquothe Departmentrdquo) to provide quarterly actuarial reports regarding the
experience of the New York State Medical Indemnity Fund (MIF or the Fund) This analysis evaluates
data for the Fund as of December 31 2017
sect69‐1019 of the New York State Department of Health Regulation states that the quarterly reports
should ldquoinclude a review of the various elements contributing to the amount of benefits paid by the
Fund and to the expenses of administration of the Fund includingrdquo
The number of qualifying plaintiffs
The mortality experience of the qualified plaintiffs
The amount of benefits paid by the Fund
The patterns of utilization of types of services provided
Inflationary patterns by types of services provided
The expenses of administration of the Fund
The impact of available health insurance on benefits paid by the Fund and
Investment earnings of the Fund
sect69‐1020 of the New York State Department of Health Regulation also requires an actuarial
calculation of the estimated liabilities of the Fund for the coming year resulting from the qualified
plaintiffs enrolled in the Fund
Commitment Beyond Numbers
New York State Medical Indemnity Fund-4th Quarter 2017 Page 2 March 30 2018
Executive Summary
Based on our review of avai lable information regarding the New York State Medical Indemnity Fund as
of December 31 2017 Pinnacle has arrived at a number of key conclusions
bull As of December 31 2017 the Fund had accepted 516 participants (511 living) with expected
future benefit payments of approximately $7288 mill ion and future administrative expenses of
$1147 million assuming a discount rate of 25 With a Fund ba lance as of December 31 2017
of approximately $2361 million this results in an unfunded liability for the Fund of
approximately $6074 million
o Tota l future lifetime benefits for the 511 living Fund participants without discounting is
estimated to be $1779 billion
o The current present va lue of future benefit payments of $7288 million does not
consider any additiona l enrollees that may be admitted to the Fund in the future
o Prior to the impact of legislation passed on December of 2016 each new participant
admitted to the Fund after June 30 2017 would increase the Fund s f uture benefits
payment liabilities by $335 mi ll ion on a nominal basis or a present value of $132
mi ll ion increasing at approximately the medical inflation rate of 35 annual ly from
March 31 2017
o On December 31 2016 new legislation was signed expanding eligibility for the Fund to
non-hospital births and significantly raising rei mbursement rates for the period from
July 1 2017 through December 31 2019 For new participants admitted duri ng this
period a priori estimates of future lifetime benefit payment liabilities increased to $362
million on a nominal basis or a present value of $152 mi ll ion These liabilities vary
depending on the amount of an individual participants benefits that are pa id during the
period of higher reimbursement rates
bull Prior to the beginning of the fisca l year the Fund was expected to have almost
one hundred th ree (10292) additional participants accepted between March 31
2017 and March 31 2018 These new participants were expected to add future
discounted benefits liabi lities of about $1550 million
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 3
March 30 2018
bull There were eleven (11) new participants to the Fund in the third quarter of fiscal
year 2017-18 approximately fifteen (15) less than expected for this period Prior
to this quarter quarterly new participant counts have varied between fifteen
(15) and th irty-five (35) in the last two years
bull The number of eligible participants is expected to continue increasing for at least
thirty years as more eligible participants are admitted to the Fund each year
bull Actual benefit payments in the th ird quarter of the 2017-18 fiscal year (10117-123117) as of
123117 were $754 million for a tota l of $21264 million paid so far in the 2017-18 fiscal year
Of these payments $114 mill ion was allocated back to the second quarter of the fiscal year
(7 117-93017) as there were no claims payments processed in September Expected benefit
payments in the remainder of the 2017-18 fisca l year are $17693 million Estimated tota l
benefit payments for the 2017-18 fiscal year (4117- 33118) are therefore $38957 mi ll ion
It is important to recognize that these amounts can vary significantly each quarter due to the
inherent uncertainty in benefit payments the effect of the legislative change on payments and
the transition to a new third party claim administrator in the current quarter
bull As of September 1 2017 the Funds claims handling is now performed by Public Consulting
Group (PCG) instead of Alica re This change decreased the administrative expenses of the Fund
on a per month per member basis Based on the current contract we expect $114 m illion to
be paid in administrative expenses over the remai nder of the 2017-18 fiscal year resu lting in
total administrative expenses for fiscal 2017-18 (including both Alicare and PCG) of $484
million
bull Exhibit 1 summarizes Fund payments by benefit type since 4th quarter of 2012
Compared to Virginia the Fund is having a substantially higher percentage of overall costs in
medical and hospital costs medical equipment and prescription drug costs and corresponding
lower percentages in nursing and long term care costs
bull As of December 31 2017 the number of participants that have received more than $1 million
in benefits payments is sixteen (16) Based on current annual severities by individual member
we expect eight (8) more members to cross this threshold in the next twelve months
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 4
March 30 2018
Background
The Medical Indemnity Fund was established in 2011 to provide a funding source for future health
care costs associated with birth-related neurological injuries Enrollees of the Fund are plaintiffs in
medica l malpractice actions who have received either court-approved settlements or j udgments
deeming the plaintiffs neurological impairments to be birth-related 1 More specifically a birthshy
related neurological injury is an inj ury to the brain or spinal cord that occurred in the course of
labor delivery or resuscitation or by the provision or non-provision of other medical services duri ng
the delivery admission 2 These injuries must result in a physical impairment a developmental
disability or both
Benefits provided by the Fund include
bull Medical Dental Surgical and Hospita l Care
bull Nursing and Custodia l Care
bull Prescription and Non-Prescription Drugs
bull Rehabilitation Services
bull Durable Medical Equipment and Assistive Technology
bull Certain Home and Vehicle Modifications
bull Other Health Care Costs for Medical Services and Supplies for Participants
The New York State Department of Financial Services (NYS DFS) serves as the administrator of the
Fund For the fi rst year of the MlFs operations Sedgwick CMS served as the Funds third party
administrators (TPA) For the second year of operations they were replaced by Alica re As of
September 1 2017 claims are now handled by Public Consulting Group (PCG) while Alicare continues
to work with Fund enrollment and case management Pinnacle serves as the actuarial advisors to the
Fund as well as the on ly other two state-run birth injury funds in the US the Virginia Birth Related
Neurologica l Injury Compensation Fund and the Florida Neurological Injury Compensation Association
The Fund currently is financed through a budget allocation from the state of New York Any party to a
medical professiona l liability claim can request for the judgment to reflect eligibility for participation in
the Fund Upon this judgment the participant is eligible to receive covered benefits from the Fund
1 Provided by NY DFS 2 htt pwwwdfsnygovinsurance mifmif_faqs ht m
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
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129218 291831
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73957
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11661
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322187
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235707
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund-4th Quarter 2017 Page 2 March 30 2018
Executive Summary
Based on our review of avai lable information regarding the New York State Medical Indemnity Fund as
of December 31 2017 Pinnacle has arrived at a number of key conclusions
bull As of December 31 2017 the Fund had accepted 516 participants (511 living) with expected
future benefit payments of approximately $7288 mill ion and future administrative expenses of
$1147 million assuming a discount rate of 25 With a Fund ba lance as of December 31 2017
of approximately $2361 million this results in an unfunded liability for the Fund of
approximately $6074 million
o Tota l future lifetime benefits for the 511 living Fund participants without discounting is
estimated to be $1779 billion
o The current present va lue of future benefit payments of $7288 million does not
consider any additiona l enrollees that may be admitted to the Fund in the future
o Prior to the impact of legislation passed on December of 2016 each new participant
admitted to the Fund after June 30 2017 would increase the Fund s f uture benefits
payment liabilities by $335 mi ll ion on a nominal basis or a present value of $132
mi ll ion increasing at approximately the medical inflation rate of 35 annual ly from
March 31 2017
o On December 31 2016 new legislation was signed expanding eligibility for the Fund to
non-hospital births and significantly raising rei mbursement rates for the period from
July 1 2017 through December 31 2019 For new participants admitted duri ng this
period a priori estimates of future lifetime benefit payment liabilities increased to $362
million on a nominal basis or a present value of $152 mi ll ion These liabilities vary
depending on the amount of an individual participants benefits that are pa id during the
period of higher reimbursement rates
bull Prior to the beginning of the fisca l year the Fund was expected to have almost
one hundred th ree (10292) additional participants accepted between March 31
2017 and March 31 2018 These new participants were expected to add future
discounted benefits liabi lities of about $1550 million
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 3
March 30 2018
bull There were eleven (11) new participants to the Fund in the third quarter of fiscal
year 2017-18 approximately fifteen (15) less than expected for this period Prior
to this quarter quarterly new participant counts have varied between fifteen
(15) and th irty-five (35) in the last two years
bull The number of eligible participants is expected to continue increasing for at least
thirty years as more eligible participants are admitted to the Fund each year
bull Actual benefit payments in the th ird quarter of the 2017-18 fiscal year (10117-123117) as of
123117 were $754 million for a tota l of $21264 million paid so far in the 2017-18 fiscal year
Of these payments $114 mill ion was allocated back to the second quarter of the fiscal year
(7 117-93017) as there were no claims payments processed in September Expected benefit
payments in the remainder of the 2017-18 fisca l year are $17693 million Estimated tota l
benefit payments for the 2017-18 fiscal year (4117- 33118) are therefore $38957 mi ll ion
It is important to recognize that these amounts can vary significantly each quarter due to the
inherent uncertainty in benefit payments the effect of the legislative change on payments and
the transition to a new third party claim administrator in the current quarter
bull As of September 1 2017 the Funds claims handling is now performed by Public Consulting
Group (PCG) instead of Alica re This change decreased the administrative expenses of the Fund
on a per month per member basis Based on the current contract we expect $114 m illion to
be paid in administrative expenses over the remai nder of the 2017-18 fiscal year resu lting in
total administrative expenses for fiscal 2017-18 (including both Alicare and PCG) of $484
million
bull Exhibit 1 summarizes Fund payments by benefit type since 4th quarter of 2012
Compared to Virginia the Fund is having a substantially higher percentage of overall costs in
medical and hospital costs medical equipment and prescription drug costs and corresponding
lower percentages in nursing and long term care costs
bull As of December 31 2017 the number of participants that have received more than $1 million
in benefits payments is sixteen (16) Based on current annual severities by individual member
we expect eight (8) more members to cross this threshold in the next twelve months
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 4
March 30 2018
Background
The Medical Indemnity Fund was established in 2011 to provide a funding source for future health
care costs associated with birth-related neurological injuries Enrollees of the Fund are plaintiffs in
medica l malpractice actions who have received either court-approved settlements or j udgments
deeming the plaintiffs neurological impairments to be birth-related 1 More specifically a birthshy
related neurological injury is an inj ury to the brain or spinal cord that occurred in the course of
labor delivery or resuscitation or by the provision or non-provision of other medical services duri ng
the delivery admission 2 These injuries must result in a physical impairment a developmental
disability or both
Benefits provided by the Fund include
bull Medical Dental Surgical and Hospita l Care
bull Nursing and Custodia l Care
bull Prescription and Non-Prescription Drugs
bull Rehabilitation Services
bull Durable Medical Equipment and Assistive Technology
bull Certain Home and Vehicle Modifications
bull Other Health Care Costs for Medical Services and Supplies for Participants
The New York State Department of Financial Services (NYS DFS) serves as the administrator of the
Fund For the fi rst year of the MlFs operations Sedgwick CMS served as the Funds third party
administrators (TPA) For the second year of operations they were replaced by Alica re As of
September 1 2017 claims are now handled by Public Consulting Group (PCG) while Alicare continues
to work with Fund enrollment and case management Pinnacle serves as the actuarial advisors to the
Fund as well as the on ly other two state-run birth injury funds in the US the Virginia Birth Related
Neurologica l Injury Compensation Fund and the Florida Neurological Injury Compensation Association
The Fund currently is financed through a budget allocation from the state of New York Any party to a
medical professiona l liability claim can request for the judgment to reflect eligibility for participation in
the Fund Upon this judgment the participant is eligible to receive covered benefits from the Fund
1 Provided by NY DFS 2 htt pwwwdfsnygovinsurance mifmif_faqs ht m
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
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Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund-4th Quarter 2017 Page 3
March 30 2018
bull There were eleven (11) new participants to the Fund in the third quarter of fiscal
year 2017-18 approximately fifteen (15) less than expected for this period Prior
to this quarter quarterly new participant counts have varied between fifteen
(15) and th irty-five (35) in the last two years
bull The number of eligible participants is expected to continue increasing for at least
thirty years as more eligible participants are admitted to the Fund each year
bull Actual benefit payments in the th ird quarter of the 2017-18 fiscal year (10117-123117) as of
123117 were $754 million for a tota l of $21264 million paid so far in the 2017-18 fiscal year
Of these payments $114 mill ion was allocated back to the second quarter of the fiscal year
(7 117-93017) as there were no claims payments processed in September Expected benefit
payments in the remainder of the 2017-18 fisca l year are $17693 million Estimated tota l
benefit payments for the 2017-18 fiscal year (4117- 33118) are therefore $38957 mi ll ion
It is important to recognize that these amounts can vary significantly each quarter due to the
inherent uncertainty in benefit payments the effect of the legislative change on payments and
the transition to a new third party claim administrator in the current quarter
bull As of September 1 2017 the Funds claims handling is now performed by Public Consulting
Group (PCG) instead of Alica re This change decreased the administrative expenses of the Fund
on a per month per member basis Based on the current contract we expect $114 m illion to
be paid in administrative expenses over the remai nder of the 2017-18 fiscal year resu lting in
total administrative expenses for fiscal 2017-18 (including both Alicare and PCG) of $484
million
bull Exhibit 1 summarizes Fund payments by benefit type since 4th quarter of 2012
Compared to Virginia the Fund is having a substantially higher percentage of overall costs in
medical and hospital costs medical equipment and prescription drug costs and corresponding
lower percentages in nursing and long term care costs
bull As of December 31 2017 the number of participants that have received more than $1 million
in benefits payments is sixteen (16) Based on current annual severities by individual member
we expect eight (8) more members to cross this threshold in the next twelve months
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 4
March 30 2018
Background
The Medical Indemnity Fund was established in 2011 to provide a funding source for future health
care costs associated with birth-related neurological injuries Enrollees of the Fund are plaintiffs in
medica l malpractice actions who have received either court-approved settlements or j udgments
deeming the plaintiffs neurological impairments to be birth-related 1 More specifically a birthshy
related neurological injury is an inj ury to the brain or spinal cord that occurred in the course of
labor delivery or resuscitation or by the provision or non-provision of other medical services duri ng
the delivery admission 2 These injuries must result in a physical impairment a developmental
disability or both
Benefits provided by the Fund include
bull Medical Dental Surgical and Hospita l Care
bull Nursing and Custodia l Care
bull Prescription and Non-Prescription Drugs
bull Rehabilitation Services
bull Durable Medical Equipment and Assistive Technology
bull Certain Home and Vehicle Modifications
bull Other Health Care Costs for Medical Services and Supplies for Participants
The New York State Department of Financial Services (NYS DFS) serves as the administrator of the
Fund For the fi rst year of the MlFs operations Sedgwick CMS served as the Funds third party
administrators (TPA) For the second year of operations they were replaced by Alica re As of
September 1 2017 claims are now handled by Public Consulting Group (PCG) while Alicare continues
to work with Fund enrollment and case management Pinnacle serves as the actuarial advisors to the
Fund as well as the on ly other two state-run birth injury funds in the US the Virginia Birth Related
Neurologica l Injury Compensation Fund and the Florida Neurological Injury Compensation Association
The Fund currently is financed through a budget allocation from the state of New York Any party to a
medical professiona l liability claim can request for the judgment to reflect eligibility for participation in
the Fund Upon this judgment the participant is eligible to receive covered benefits from the Fund
1 Provided by NY DFS 2 htt pwwwdfsnygovinsurance mifmif_faqs ht m
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
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6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
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60 1609
15181 9529
132 707 105 657 731
118971
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100258 644449 103984 1l704I
SOU)
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3195)
1fi9659 222 313OS 159 20)
230680
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42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
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3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
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206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
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10 141
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213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
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14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund-4th Quarter 2017 Page 4
March 30 2018
Background
The Medical Indemnity Fund was established in 2011 to provide a funding source for future health
care costs associated with birth-related neurological injuries Enrollees of the Fund are plaintiffs in
medica l malpractice actions who have received either court-approved settlements or j udgments
deeming the plaintiffs neurological impairments to be birth-related 1 More specifically a birthshy
related neurological injury is an inj ury to the brain or spinal cord that occurred in the course of
labor delivery or resuscitation or by the provision or non-provision of other medical services duri ng
the delivery admission 2 These injuries must result in a physical impairment a developmental
disability or both
Benefits provided by the Fund include
bull Medical Dental Surgical and Hospita l Care
bull Nursing and Custodia l Care
bull Prescription and Non-Prescription Drugs
bull Rehabilitation Services
bull Durable Medical Equipment and Assistive Technology
bull Certain Home and Vehicle Modifications
bull Other Health Care Costs for Medical Services and Supplies for Participants
The New York State Department of Financial Services (NYS DFS) serves as the administrator of the
Fund For the fi rst year of the MlFs operations Sedgwick CMS served as the Funds third party
administrators (TPA) For the second year of operations they were replaced by Alica re As of
September 1 2017 claims are now handled by Public Consulting Group (PCG) while Alicare continues
to work with Fund enrollment and case management Pinnacle serves as the actuarial advisors to the
Fund as well as the on ly other two state-run birth injury funds in the US the Virginia Birth Related
Neurologica l Injury Compensation Fund and the Florida Neurological Injury Compensation Association
The Fund currently is financed through a budget allocation from the state of New York Any party to a
medical professiona l liability claim can request for the judgment to reflect eligibility for participation in
the Fund Upon this judgment the participant is eligible to receive covered benefits from the Fund
1 Provided by NY DFS 2 htt pwwwdfsnygovinsurance mifmif_faqs ht m
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
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14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund-4th Quarter 2017 Page 5
March 30 2018
Data Methods amp Assumptions
Given that the Fund has been in operation for on ly six years a number of sources of information are
still in the formative stages Pinnacle has worked with Alicare and wi ll be working with Publ ic
Consulting Group to ensure that their claims databases are sufficient to support these ongoing
quarterly reports and to enhance the ongoing management of the Fund As a result we have
introd uced more ana lysis by benefit category (ie nursing medical hospital prescription drugs etc)
and inj ury type
Early in the Funds operations some health care benefits that should have been paid by the Fund were
erroneously paid by New York Medicaid Pinnacle has been provided detailed benefits payment
information on these costs by the New York Department of Health (DOH) and they are reflected in the
exhibits
Some of the long term forecasts and industry benchmarks used in the ana lysis are based on data for
the birth injury funds in Virginia and Florida as well as medical professional liabi lity insurers in the
state of New York These have been significantly modified based on data from the Fund as it becomes
more credible
One significant area of ongoing review of assumptions relates to the expected number of claims per
10000 live births Initia lly 110 participants per 10000 births were assumed based on data from
Virginia and Florida After the first year the frequency rate was increased to 290 participants per
10000 births In the first quarter 2014 report the expected number of eligible Fund participants was
increased from 290 per 10000 live births to 348 to be more consistent with the first two fu ll fiscal
years of experience and present more rea listic financia l projections for the next five years In late
2016 we increased the assumption to 450 participants per 10000 births to better reflect ongoing
frequency data It should be recognized that this is over four times the number of participants per
10000 live births experienced by the bi rth f unds in Florida and Virginia
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 6 March 30 2018
As we are accumulating more credible amounts of benefit payments data several differences are
emerging For example the annual benefit payments during 2016 to Fund participants that were
admitted to the program prior to 2016 (ie participants that have a full year of benefit payments
during 2016) are shown in the following graph and compared to data from Virginia Additional severity
information is contained in Exhibit 1 Page 2 and Exhibit 6
600o
500
400
300
200
100
I I I I 1 I 1 11 bullbull - -00
bull VA Data bull NY Data
There are at least th ree key issues
1) The Fund has sign ificantly more participants with $0 of benefit payments W ill these
participants have benefit payments at some point
2) The Fund has substantially more participants with less than $25000 in annual benefit
payments Is there something about the Funds enabling legislation that is causing this or will
their costs increase over time
3) The Fund had five participants with annual benefits costs over $400000 Virginia has no
participants that breached th is threshold Admittedly there are sample size issues but will this
phenomenon persist
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
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M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
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164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
171 70amp 2177~
401351 W4062amp2 deg 3amp1114
m 2529 60ll
Ill 101 413
211111 300 45
110508 2554
181 615
431 269 um m n
25471J 1ll 721 amp61 892
22301 151 593
m ~
69656 29373 5050 65147 3J7540
03929 1 165571 1 14amp1agt
1320U 116207 U5157 i 285
227482 40401 l72JU J27022 yen77991 264554
26C 161 l547gtJ 6 18 164 459971 175695 297615 1458J1
ml deg u osn
1218933 1 193tl
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120264 J31801 254 065 JSl 669 JSS6M
2194 4561lt
llll 54812
mm U767 2564UI
1CIS91 427 l55
334 311 Sil
ml ma 47626 21564 22710 11639
369731 3017 927857 17645 ll4911
157023 273743 45171 550020
40362 )70J5
w 487111
155 414 22670S
l 3S4514 149015
llll l oamp661
mm
1174 223 110973
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ml 51 481 1 oso
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gjl 8 287
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ma 49671
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l 779JSS 175251
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1 525926 763401 130411
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18900696 2087 267
3082171 475424 1100574 4178 43 J820 ua 45SJ690
2 811 331 2916751 4839618
1140117 1 480454
1 311 684
ou
10
516 1sm 004
Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
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16 10 11 lS 19 19
lll
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1609 3902
137049
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ll4 76U7 41 15841 ltO lJl
l30U1 74 960 mm 30164
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000 145380 183334
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17194 JS1 7l2 S50336 444 04gt 639416 amp70096 1yenr7995 l 7382Sl 2 261 Ml
uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
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2025914
1 57693 rnom
6A 110
deg419251
1813023 1000636 219 596
1 72S676 3923 472
843272 1 80454
11111 390 4 233149
2J635l3 185690 6339199
l l087U 25$7 109
487637
2007 051 2J8765amp
2 944 150
deg 1 140
ml 563731
2574 090 2 20414amp
755amp133 90031
deg 607900 233amp152 164gt313 3295amp18 2 114 339
2284tn 4 83963amp
gu 3056lJ
2 471773 1 Cll7815
1 1m J 13951
n3791
1 1 90769 3 722974 29161Sl
Qll
16
311321 32VDI 2714240
900 1 lil5460
11293S6 3480047
7S962 3057251 33734-93
4 lUJJ6 2au na
ma filH7U
3657 115 3(1(8145
103Sfl743 1 Z30378
2003 100
3113 J67 3617271 31A3JJ 4 553690
~ 742SlS 9
4 012529
32J0451 ll 7U25a 1 3794$3
221amp rn 4 064970
932996 382031
llll 851 lni
412Sll
3 486654 118amp7481 1 49037 2 410COI
bull HOn1 1 008190 4478436
QU 4511
4 7236Z7 ll7MCIOS
1 622 2 269515 rnonz l l0057
llll 931 410 4 28858
4 ll6 105
14amp320U 1781 597
2Ml 926 4 7SU14
ms 9Sl 08amp
soan 1611 3ampamp
1 956amp55
10122n
mil 1ou ns 4688Sl
l ampU7294 2087 27
JW 1086949 6226162 50578
189008
ml
663Ul3 S 319139
ml 1216546 7001918
ma l 176J04 ll961
SW 1 3JJ154
Ia l 3JJ lS4
82S961 7001 94amp
S319al9 1U 01l6 2087267 3082271 4 1S4 424
1 100574
4 4784 36
3820U8 4 553 690
2811 JJamp
2916752 m om 180454 11828 1 371684
S6333S 74amp4S
76898S
362013 316amp9
910
nm004
Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund -4th Quarter 2017 Page 7 March 30 2018
We are continuing to monitor these phenomena and will add additional analysis in the March 31 2018
actuarial report
In response to this information changes to the assumptions regarding the expected frequency and
severity of claims were made to the 4th quarter 2014 analysis and again in the second quarter of 2016
The assumptions wi ll be detai led later in th is report
Discussion and Analysis
Number of Qualifying Participants
Based on the loss runs provided by Sedgwick CMS Alicare and DOH valued as of December 31 2017
there are five hundred sixteen (516) participants that have qualified for the Program as of th is date
five hundred eleven (511) were still living as of December 31 2017 Th is information is summarized in
Exhibit 2
There were eleven (11) new participants to the Fund in the third quarter of fiscal 2017 approximately
fifteen (15) fewer than expected for the quarter
The number of Fund participants and the distribution of participants by age warrants continued
monitoring The average age of a Fund participant at the time of admission is about 85 which is
approximately four years older than the age of a Virginia Birth Fund participant at admission
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
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lll 8569
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2012Q2 2012Q3 2012Q4
16
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13371 2356
1890
13917
bull bull 779 l658
llSO
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13797
630
15598
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1911 13918
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22362
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10248
29356
2258 12sn 22663
21131 12)06 25950
21060
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38148
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19085
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21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
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201lQ4
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12313 4299
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12
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10298
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16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
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6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
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H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 8 March 30 2018
Average Entry Age
120
110
100
90
80
70
60
m
so
40
~ Average Age
Mortal ity ExperienceLife Expectancy
It is reasonable to expect that average life expectancies for Fund participants will average in the high
twenties as a group unless the different admission standards materially change life expectancies
relative to the Virginia and Florida birth funds The current life expectancies of the Virginia birth fu nd
are 284 years from birth and 292 years for participants that reach the age of three (3) As of
December 31 2017 the Fund has experienced the death of only five of its participants (we were
notified that one more member passed away after December 31 2017) The following graph compares
the age of current participants with the expected age distribution based on the Virginia Birth Fund
data
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
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Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
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206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
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10 141
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1572SO
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115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
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4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 9 March 30 2018
Participant Distribution by Age 90
80
70
60 c
a middot sot n-0
Gl 40 Cl
E z
30
20
10
-
- - - - - -gt- gt- gt- - gt- - gt- - - -
_
IJ - I I bull I bull 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
Current Age
bull Actual ff of Participants bull Expected It of Participants
Actuarial Ca lculation of Estimated Fund Liabilities
We have been asked to project expected fund liabilities for the next ten fisca l years of the M IF To do
th is we have estimated the ultimate benefit payments for the participants admitted to the Fund each
quarter on both a nominal and discounted basis Three methods were used to estimate ultimate
benefit payments by the year in which a participant was accepted to the fund A loss development
method was used in which actua l benefit payments to date were d ivided by the expected percentage
of ultimate benefits as of each participant-quarters maturity These percentages were developed
based on information for the Virginia Birth Fund and modified to reflect the older average age of the
Fund participants upon admittance An expected loss method was also used in which expected
ultimate benefit payments by quarter were also estimated using a weighted average of expected
average ultimate benefit payments per Fund participant overall and by quarter of eligibi lity Finally a
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 10 March 30 2018
Bornhuetter-Ferguson (B-F) technique estimates ultimate losses using a combination of expected
losses and loss development techniques
These ultimate benefits amounts are then allocated to future payment quarter based on the benefits
payment patterns described previously To state future payments on a discounted basis a discount
rate of 25 was used This is based on discount rates for other medical professiona l liability insurance
programs in New York Prior to the recent legislative change average lifetime benefit payments were
estimated to average $335 million per participant on a nominal basis and $132 mil lion on a
discounted basis using a 25 discount rate This amount increases annually to account for medical
inflation For new participants admitted subsequent to the law change an a priori estimate of future
lifetime benefits payment liabi lities increases to an average of $362 million on a nominal basis or a
present va lue of $152 mil lion These liabilities will vary depending on the amount of an individual
participant s benefits that are paid during the period of higher reimbursement rates The timing of the
payments used in our severity estimates also reflect the amount of time a participant is expected to
live so that these severities take participant mortality into account
Based on this approach and the new law we estimate that the 516 admitted Fund participants wi ll
ultimately receive benefits on the order of $1855 billion Adjusting for the time va lue of money at a
25 discount rate resu lts in a present value for these benefits of $8046 million
Actual benefit payments in the third quarter of the 2017-18 fisca l year were $754 million Of this
amount $114 million was allocated back to the second quarter of the 2017-18 fisca l year to account
for no claims payments being processed in September Based on updated severity and payment timing
estimates the expected 2583 additional participants and the legislative impact estimated benefit
payments for the 2017-18 fiscal year will be $38957 million It is important to recognize that these
amounts can vary significantly each quarter The change from our estimate of $52177 for fisca l year
2017-18 in the prior ana lysis is due to lower than expected benefit payments in the last four months
Severa l factors cou ld contribute to this development including both the impact of changing third party
administrators and a lower than expected increase in claim costs as a resu lt of the December 31 2016
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
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71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
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164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
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12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
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1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
171 70amp 2177~
401351 W4062amp2 deg 3amp1114
m 2529 60ll
Ill 101 413
211111 300 45
110508 2554
181 615
431 269 um m n
25471J 1ll 721 amp61 892
22301 151 593
m ~
69656 29373 5050 65147 3J7540
03929 1 165571 1 14amp1agt
1320U 116207 U5157 i 285
227482 40401 l72JU J27022 yen77991 264554
26C 161 l547gtJ 6 18 164 459971 175695 297615 1458J1
ml deg u osn
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1CIS91 427 l55
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ml ma 47626 21564 22710 11639
369731 3017 927857 17645 ll4911
157023 273743 45171 550020
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l 3S4514 149015
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mm
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3082171 475424 1100574 4178 43 J820 ua 45SJ690
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1140117 1 480454
1 311 684
ou
10
516 1sm 004
Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
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lll
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1609 3902
137049
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103Sfl743 1 Z30378
2003 100
3113 J67 3617271 31A3JJ 4 553690
~ 742SlS 9
4 012529
32J0451 ll 7U25a 1 3794$3
221amp rn 4 064970
932996 382031
llll 851 lni
412Sll
3 486654 118amp7481 1 49037 2 410COI
bull HOn1 1 008190 4478436
QU 4511
4 7236Z7 ll7MCIOS
1 622 2 269515 rnonz l l0057
llll 931 410 4 28858
4 ll6 105
14amp320U 1781 597
2Ml 926 4 7SU14
ms 9Sl 08amp
soan 1611 3ampamp
1 956amp55
10122n
mil 1ou ns 4688Sl
l ampU7294 2087 27
JW 1086949 6226162 50578
189008
ml
663Ul3 S 319139
ml 1216546 7001918
ma l 176J04 ll961
SW 1 3JJ154
Ia l 3JJ lS4
82S961 7001 94amp
S319al9 1U 01l6 2087267 3082271 4 1S4 424
1 100574
4 4784 36
3820U8 4 553 690
2811 JJamp
2916752 m om 180454 11828 1 371684
S6333S 74amp4S
76898S
362013 316amp9
910
nm004
Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 11 March 30 2018
legislative change We will continue to monitor this estimation methodology closely as it is quite
sensitive to severa l key assumptions
The number of eligible participants is expected to continue increasing for at least 30 years as more
eligible participants are admitted to the Fund each year
Amount of Benefits Paid
Based on payment data provided by PCG $754 million has been paid to Fund participants during the
third quarter of the 2017-18 fiscal year (10 117 - 12 31 17) Due to the transition of claims handling
to PCG no claims were paid duri ng the 91 17-9 3017 period As shown in Exhibit 1 $114 million of
the payment amount was allocated to the second quarter of the 2017-18 fiscal year (7 1 17- 9 30 17)
while $639 million was attributed to the th ird quarter of the fiscal year (10 1 17 - 123117)
We are continuing to investigate to see if there are materia l differences in the t ypes of injuries
experienced by participants in the New York Fund versus those in Virginia and Florida that may explain
some of the differences we are seeing between actua l and expected payments We anticipate
providing some additiona l analysis in our March 31 2018 actuarial report
Patterns of Utilization
It is too early in the life of the Fund to provide any credible conclusions regarding patterns of
util ization However Pinnacle is working with PCG to develop the data capabi lities to provide th is type
of ana lysis in the future Specifically we are developing detai led benefit payment information by
participant Fund fisca l year and benefit type The benefit types being captured are intended to reflect
the benefits provided by the Funds legislation and follow form with existing databases in Florida and
Virginia
Exhibit 1 shows payment detail (provided through 12 31 17) grouped into the following categories
bull Medical Treatment
bull Hospita l Based Care
bull Surgical Care
bull Nursing Care
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
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2012Q2 2012Q3 2012Q4
16
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13917
bull bull 779 l658
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2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
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328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
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201Ql
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
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11909 717 213939
11222 371
780 41406
9394
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10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
lll
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gtOlSQl
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60 1609
15181 9529
132 707 105 657 731
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SOU)
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3195)
1fi9659 222 313OS 159 20)
230680
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42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
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612212 6 10069 72137 U S 847
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H863S 612212 610069 206099 127130 l35847
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612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
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165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 12 March 30 2018
bull Dental Care
bull Rehabilitation Care
bull Custodial Care
bull Durable Medical Equipment
bull Home Modifications
bull Vehicle Modificat ions
bull Prescription and Non-Prescriptive Drugs
bull Other Healt h Care Costs
bull Assistive Technology
bull Other Payments
Our analysis suggests benefits patterns that are showing some differences from the Virginia dat a To
date t he Fund is having a substantially higher percentage of overall costs in medical and hospita l costs
medica l equipment and prescription drug costs and corresponding lower percentages in nursing and
long-t erm care costs The prescription drug cost s merit continued monitoring and potentially a more
detailed invest igation This data is summarized in Exhibit 1 and shown graphically below Exh ibit 1 also
compares New York dat a t o benefit payments in Virginia Nursing cost s are t he majority of total
payments in bot h states
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
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m ~
69656 29373 5050 65147 3J7540
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ml ma 47626 21564 22710 11639
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ou
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
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uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 13 M arch 30 2018
Benefit Payments 1012 - 1217
bull Medical Treatment 534
bull Hospita l Based Care 1074
bull Surgical Care 069
bull Nursing Care Sl42
bull Denta l Care 0 21
bull Rehabilitation Care 4 80
bull Custodial Care 426
Durable Med Equip 519
bull Home Modifications 544
Vehicle Modifications 115
bull Rx and Non-Rx Drugs 1007
bull Other Health Care Costs 049
Assistive Technology 000
Other Pay ments 018
Another key aspect of the dat abase needed to evaluate patterns of utilization is d ifferences in the
medical and mental condition of the Funds participants To facilitate th is d imension of our future
analysis Pinnacle worked w ith Alica re to track a number of charact eristics for each Fund participant
including
bull Current Age
bull Gender
bull Injury Description
bull Other Insurance (ie whether participant holds other insurance)
bull Ambulatory Status
bull Use of a gastric feeding tube (G-Tube)
bull Abil ity to lift head from the prone position
bull Use of a ventilat or
bull Use of a tracheostomy tube (trach t ube)
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
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llll 9878
ml 4680
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2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
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9 26132
17945 12018 29Sll
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21096
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1911 13918
30gt73
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1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
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10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
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201Q3
201404
30
27
19
2S 20
19
32
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~380 1973
200
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52113
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8789
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21358
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9212 9634
18518
7187
10430
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12065
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2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
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ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
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16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
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11 11 16
25 0
27
19 25 20
19 27 31 16
20
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35
22 15
19
29
17
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32
~238 1223
85
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191
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6506
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10483 6
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7389
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6928
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50S2
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16353
9670
6252 10204
11287
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42839
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33179 250713
129218 291831
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73957
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11661
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Siil n38gt 37502
270969 139466
322187
298075
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235707
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34ABSO
32A-898S1
167434
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ma 84674
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9917 389135
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SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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201104
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
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11222 371
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9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
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91 22120 24 k2
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1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
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136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
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lll 108661 475SS
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deg 1174223
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ll 87
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120264 331801 66S
20S891 64 447 26SJ46
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3163952 73694
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601061
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612212 6 10069 72137 U S 847
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206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
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165 265 504408
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492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 14
March 30 2018
In Virginia several of t hese charact eristics have been shown to influence life expect ancies and average
annual benefit payments We expect t hey will serve equally va luable to t he Fund as more benefit
payment dat a becomes available
Benefit Payments and Injury Type
For near ly all Fund part icipants the nature of the injury and primary diagnosis permitting entrance into
the Fund has been provided t o Pinnacle as part of t he quarterly Alicare enro llment data Although
st r ict st andardization of participant injury types is not provided sufficiently det ailed descript ions of t he
nature of the injury have allowed us to judgmenta lly categorize participants into standardized injury
type groups As w ith the benefit type categorization injury type categorizat ion can aid in identifyi ng
d ifferences in injury types t hat are relevant to t he management of t he Fund
We have categorized the primary diagnosis for each Fund participant into one of t he followi ng injury
types
bull Brachia Plexus
bull Cerebral Palsy
bull Developmental Delays
bull Encephalopat hy
bull Erbs Palsy
bull Hemiplegia
bull Mental Ret ardation
bull Neurologica l Disabilities
bull Quadriplegia
bull Spast ic Diplegia
bull Spastic Paraplegia
bull Spastic Quadriplegia
bull Other
bull Not Available
The following is a graph of t he distribution of part icipants by injury type group above Spastic
quadriplegia cerebra l pa lsy and encephalopathy combine to make up nearly 73 of total benefit
payments
Pinnacle Actuarial Resources Inc
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State M edical Indemnity Fund - 4th Quarter 2017 Page 15 M arch 30 2018
Benefit Payments 1012 -1217
bull Brachia Plexus 008
bull Erbs Palsy 021
bull Spastic Diplegia 033
bull Hemiplegia 038
bull Mental Retardation 229
bull Developmental Delays 676
Neurological Disabilities 822
bull Spastic Paraplegia 023
bull Cerebral Palsy 2877
Encephalopathy 2400
bull Spast ic Quadriplegia 2004
bull Other 578
Quadriplegia 155
Not Available 136
It is clear from the graph that the Funds participant composition by injury type is varied but also
concentrated in a handful of categories The following graph illustrat es the number of participants and
average payment by injury type through the current quarter
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
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bull bull 779 l658
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16950 11971
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TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
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9 42 161
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9 10183 281128 00445
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9 69656 45050
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1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
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136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
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9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
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223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
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61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
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2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
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17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
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551163 118 03-4 557 163
118 034
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73785 12 543
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21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 16 March 30 2018
Average To Date Payments per Participant
1lt10
400000
300000
200000
100000
Braoial PltM ErbsPalsy Spastic ll)legia H1iplbullsbull Mortal OwlopmentgtI Heurclogk1 Spaslk Cerebral Pllsy EncephJopatJy Spastlt R~tlramptlon Qelm Orsalllmes PAtliltgii Quadrule9a
Icu
120
100
60
40
20
- bullQuadnilbullibull NotAvailbit
- Nlmbefof PirbOpiltS -e-AJfqge ParJCIPilnt Se-w-mv
Participants with injury types of Cerebral Palsy Encephalopathy or Spastic Quadriplegia comprise
approximately 52 of the tota l participants but account for approximately 73 of total payments
resulting in relatively large average payments Conversely participants with injury types of Brachia I
Plexus Erbs Palsy Spastic Diplegia Hemiplegia Mental Retardation Developmental Delays or
Neurologica l Disabilities have relatively low average payments and comprise approximately 41 of the
total participants but account for roughly only 18 of tota l payments The large number of
participants in the Developmental Delays and Neurological Disabi lities categories with relatively low
benefit payments are also noteworthy
Inflationary Patterns of Types of Services
It is far too early in the life of the Fund to provide any credible conclusions regarding inflationary
patterns However based on our experience in Virginia we are confident that the detailed claims
benefits payment database being constructed will prove invaluable once more benefits experience has
been accumulated
_ Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
171 70amp 2177~
401351 W4062amp2 deg 3amp1114
m 2529 60ll
Ill 101 413
211111 300 45
110508 2554
181 615
431 269 um m n
25471J 1ll 721 amp61 892
22301 151 593
m ~
69656 29373 5050 65147 3J7540
03929 1 165571 1 14amp1agt
1320U 116207 U5157 i 285
227482 40401 l72JU J27022 yen77991 264554
26C 161 l547gtJ 6 18 164 459971 175695 297615 1458J1
ml deg u osn
1218933 1 193tl
197201 31171
120264 J31801 254 065 JSl 669 JSS6M
2194 4561lt
llll 54812
mm U767 2564UI
1CIS91 427 l55
334 311 Sil
ml ma 47626 21564 22710 11639
369731 3017 927857 17645 ll4911
157023 273743 45171 550020
40362 )70J5
w 487111
155 414 22670S
l 3S4514 149015
llll l oamp661
mm
1174 223 110973
19128S
325761 4247
ml 51 481 1 oso
3aal15 Wd
gjl 8 287
isms 26411
ma 49671
3369S4 zg
l 779JSS 175251
~ llll
deg
o 314 147 J89Cll6
1 525926 763401 130411
~
21971
ml 14t Jn
ma
30423
llll IOlll 13JJ154
SJ19839
18900696 2087 267
3082171 475424 1100574 4178 43 J820 ua 45SJ690
2 811 331 2916751 4839618
1140117 1 480454
1 311 684
ou
10
516 1sm 004
Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
raquoUQJ
lOUQl 20UQ3
10Ultl4 211lJQ1
deg10lJQ3
204
raquolAQl 101l)
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101SQ3
21116Qgt 21116Q1 21116Ql 21116Q4 2017Q)
2017Ql
21117Q4
16
30 17
19
10 19 17 31
16 10 11 lS 19 19
lll
n1
371
60
deg 3094S
1609 3902
137049
3
70
Ill 3
ll4 76U7 41 15841 ltO lJl
l30U1 74 960 mm 30164
ltl59U 508
1S7ZSO 122431
lll lli m lli
mm
59J70
437331 U 4 1S3 1 093SSS 1 313)11 (7089 622100 mm 104 l 278C81 1198927
U 6J7 48351 IS 4 17112S
109 114 196914 457936 990gt8 l7S521 623900 990171
000 145380 183334
U0389 107J8S deg 720517 H5179 1 157563 714 566 1 157055 144991amp 1 7551S
17194 JS1 7l2 S50336 444 04gt 639416 amp70096 1yenr7995 l 7382Sl 2 261 Ml
uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
3146 16 WOU
Ill 334 J91 937
l3710U 833319
1 44 l20 349Sl3
1 3S21
33$
1 S07937 lct1929 1 151115 2643417
1 03071S
t3nfiM
ga 16SU9 11337CJ
4 024 728 SU087 as357
11amp797
371966 1315gt1
17SS213 2301 605 1158207
33QSJ09
wsn 1334617 112308
lli sossn 1pound1002
2025914
1 57693 rnom
6A 110
deg419251
1813023 1000636 219 596
1 72S676 3923 472
843272 1 80454
11111 390 4 233149
2J635l3 185690 6339199
l l087U 25$7 109
487637
2007 051 2J8765amp
2 944 150
deg 1 140
ml 563731
2574 090 2 20414amp
755amp133 90031
deg 607900 233amp152 164gt313 3295amp18 2 114 339
2284tn 4 83963amp
gu 3056lJ
2 471773 1 Cll7815
1 1m J 13951
n3791
1 1 90769 3 722974 29161Sl
Qll
16
311321 32VDI 2714240
900 1 lil5460
11293S6 3480047
7S962 3057251 33734-93
4 lUJJ6 2au na
ma filH7U
3657 115 3(1(8145
103Sfl743 1 Z30378
2003 100
3113 J67 3617271 31A3JJ 4 553690
~ 742SlS 9
4 012529
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221amp rn 4 064970
932996 382031
llll 851 lni
412Sll
3 486654 118amp7481 1 49037 2 410COI
bull HOn1 1 008190 4478436
QU 4511
4 7236Z7 ll7MCIOS
1 622 2 269515 rnonz l l0057
llll 931 410 4 28858
4 ll6 105
14amp320U 1781 597
2Ml 926 4 7SU14
ms 9Sl 08amp
soan 1611 3ampamp
1 956amp55
10122n
mil 1ou ns 4688Sl
l ampU7294 2087 27
JW 1086949 6226162 50578
189008
ml
663Ul3 S 319139
ml 1216546 7001918
ma l 176J04 ll961
SW 1 3JJ154
Ia l 3JJ lS4
82S961 7001 94amp
S319al9 1U 01l6 2087267 3082271 4 1S4 424
1 100574
4 4784 36
3820U8 4 553 690
2811 JJamp
2916752 m om 180454 11828 1 371684
S6333S 74amp4S
76898S
362013 316amp9
910
nm004
Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4th Quarter 2017 Page 17 March 30 2018
Administrative Expenses
Pinnacle was provided information in early 2017 on administrative expenses charged by Alicare to the
Fund for claims administration and enrollment services Based on this information we estimated that
the Fund wou ld incur approximately $497 million in administrative expenses during the 2017-18 fiscal
year As of 9 117 the claims administration was taken over by PCG while Alica re continues to service
enrollment to the Fund With this change in claims administration we expect total administrative
expenses for fiscal 2017-18 (including both Alicare and PCG) of $484 million
Prior to the change in claims administration Alicare was charging the Fund $809 per Fund participant
per month Under the current payment structure the tota l administrative costs are now $728 per
Fund participant per month This cost is set to increase each year by $2 per participant per month over
the next 5 years With the new administrative costs we expect $519 million in administrative
expenses during the upcoming 2018-2019 fiscal year or approximately 62 of the Funds tota l
expenditures (benefit payments plus expenses) during that year Th is percentage is comparable to the
administrative expenses in Virginia However the percentage is affected by the significantly higher
benefit payments expected due to recent legislation Once the legislation expires administrative
expenses as related to benefit payments are expected to return to levels more on the order of 20 of
the Funds total expenditures each year
Impact of Available Health Insurance
It is also far too early in the life of the Fund to provide any credible conclusions regarding the impact of
available health insurance However the detailed benefits payment database described earlier and
summarized in Exhibit 1 will prove invaluable once more benefits experience has been accumulated
One early item of note is the number of participants with Medicaid has been consistently tracking at
more than half of the Funds participants In the current 2017 fiscal year nearly 70 of the Funds
admitted participants rely on Medicaid
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
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16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
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201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
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19 25 20
19 27 31 16
20
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19
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85
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322187
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235707
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ma 84674
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201704 11 8l
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 18 March 30 2018
Investment Earnings
We have not had the opportunity to review significant informat ion regarding the Fund s investment
returns on the Funds invested assets at th is time We expect that more information will be provided
in upcoming quarterly reports Building up investment income on the Fund s balance will be essentia l
to the Funds ongoing fi nancial strength as participants continue to enter the Fund and calendar year
benefit payments continue to grow as the Fund moves toward a steady state over the next twenty or
more years
Distribution amp Use
This Report has been prepared for the use of the NY DFS and for the internal use of the NY DFS on ly
Permission is granted to share this Report with representatives of M IF under the Departments
standard guidelines for such review Any other distribution of this report is not authorized without the
prior written consent of Pinnacle Third parties reviewing the report shou ld recognize that the
furnishing of this report is not a substitute for their own due diligence and should place no rel iance on
this report or the data contained herein that would result in the creation of any duty or liability by
Pinnacle to the third party
Pinnacle consents to reference by the Department to Pinnacles reports opinions advice and firm
name in documents released by or at the direction of the Department concerning such financia l
examination findings In any instances other than the Departments fina l examination report regarding
the review of reserves and solvency analysis of the Fund in which Pinnacle is identified as the source of
a paraphrase quotation or partial quotation the Department sha ll notify Pinnacle prior to such
publication so that Pinnacle may review said reference(s) Further distribution or use of this Report is
expressly proh ibited without the prior written consent of Pinnacle The nature of the materia l
contained in the Report is such that this limitation on distribution shou ld apply to requests made under
any Freedom of Information Act
The exhibits attached in support of our findings are an integral part of this Report These sections have
been prepa red so that our actuarial assumptions and j udgments are documented Judgments about
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
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bull bull 779 l658
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16950 11971
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TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
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20 13Q2
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
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--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
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103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 19 March 30 2018
the conclusions drawn in this Report should be made on ly after considering the Report in its entirety
We remain avai lable to answer any questions that may arise regarding this Report We assume that
the user of this Report will seek such explanation on any matter in question
Our conclusions are predicated on a number of assumptions as to futu re conditions and events Those
assumptions which are documented in subsequent sections of this report must be understood in
order to place our conclusions in their appropriate context In addition our work is subj ect to inherent
limitations which are also discussed in this Report
Any and all Department communications records documents written ora l or electronic
communication or other information of any kind are confidentia l [Pinnacle] shall not copy transmit
deliver or communicate in any way to any other person or entity any such communications and or
information without the prior written consent of the Department
All information and materia ls received hereunder by [Pinnacle] from Department are and shall remain
the sole and exclusive property of Department and [Pinnacle] shall have no right title or interest in or
to any such information or materia ls by virtue of their use or possession hereunder by [P innacle]
Reliances amp Limitations
We have prepared th is Report in conformity with its intended use by persons technically competent in
the areas addressed and for the stated purposes on ly
Throughout our analysis we have without audit or verification relied on historical data and qualitative
information provided by NYS DFS related agencies and MIFs services providers The accuracy of our
results is dependent upon the accuracy and completeness of th is underlying data Therefore any
materia l discrepancies discovered in this data or other information provided by NYS DFS its related
agencies or M l Fs other service providers should be reported to us and th is report amended
accordingly
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
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164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
4106 67708 78 411 17amp462 15717 Zl42 SlOUI 100251 166996 303 2302 1727611
U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
157250 1S1366
12231 174172 472382
167611 lampU79 10
m 12070
16074amp 7030 55oampO
335796
4 10257 321337 16ffl 202020
119511
Ill 4217
219402 14102 1610ll ma 1306amp0
523451 211106 222131 16 1n
lit nno 1U11
171 70amp 2177~
401351 W4062amp2 deg 3amp1114
m 2529 60ll
Ill 101 413
211111 300 45
110508 2554
181 615
431 269 um m n
25471J 1ll 721 amp61 892
22301 151 593
m ~
69656 29373 5050 65147 3J7540
03929 1 165571 1 14amp1agt
1320U 116207 U5157 i 285
227482 40401 l72JU J27022 yen77991 264554
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ml deg u osn
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mm U767 2564UI
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ml ma 47626 21564 22710 11639
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l 3S4514 149015
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mm
1174 223 110973
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3082171 475424 1100574 4178 43 J820 ua 45SJ690
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1140117 1 480454
1 311 684
ou
10
516 1sm 004
Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
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lll
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1609 3902
137049
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l30U1 74 960 mm 30164
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2284tn 4 83963amp
gu 3056lJ
2 471773 1 Cll7815
1 1m J 13951
n3791
1 1 90769 3 722974 29161Sl
Qll
16
311321 32VDI 2714240
900 1 lil5460
11293S6 3480047
7S962 3057251 33734-93
4 lUJJ6 2au na
ma filH7U
3657 115 3(1(8145
103Sfl743 1 Z30378
2003 100
3113 J67 3617271 31A3JJ 4 553690
~ 742SlS 9
4 012529
32J0451 ll 7U25a 1 3794$3
221amp rn 4 064970
932996 382031
llll 851 lni
412Sll
3 486654 118amp7481 1 49037 2 410COI
bull HOn1 1 008190 4478436
QU 4511
4 7236Z7 ll7MCIOS
1 622 2 269515 rnonz l l0057
llll 931 410 4 28858
4 ll6 105
14amp320U 1781 597
2Ml 926 4 7SU14
ms 9Sl 08amp
soan 1611 3ampamp
1 956amp55
10122n
mil 1ou ns 4688Sl
l ampU7294 2087 27
JW 1086949 6226162 50578
189008
ml
663Ul3 S 319139
ml 1216546 7001918
ma l 176J04 ll961
SW 1 3JJ154
Ia l 3JJ lS4
82S961 7001 94amp
S319al9 1U 01l6 2087267 3082271 4 1S4 424
1 100574
4 4784 36
3820U8 4 553 690
2811 JJamp
2916752 m om 180454 11828 1 371684
S6333S 74amp4S
76898S
362013 316amp9
910
nm004
Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4 th Quarter 2017 Page 20 March 30 2018
There is a limitation upon the accuracy of these estimates in that there is inherent uncertainty in any
estimate of unpaid claims obligations and benefits This is due to the fact that the ultimate liability for
claims is subj ect to the outcome of events yet to occur eg future program participant life
expectancies medical cost inflationary trends etc We have employed generally accepted actuarial
techniques and assumptions that we believe are reasonable and appropriate Further the conclusions
presented herein are reasonable and appropriate and supported by our analysis given the information
currently available However it shou ld be recognized that future loss emergence will likely deviate
perhaps materially from our estimates
Additiona l uncerta inty arises from lack of historical data and use of industry benchmarks Our
proj ections of future loss emergence and benefit payments are based primari ly on aggregate insurance
industry loss development patterns It is possible that these patterns may not be indicative of future
loss development for MIF
Pinnacle Actuarial Resources Inc
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
11287
16178
2l97S
S8 lS3
18Sll 16micro6
42839
13389 20382
14477
21n4
37924
00473
~
24SOO S197
Sl635 31951
17088
9897 23107
18173 23729
37407
7296
2896S
23682 S6073
17751
3523
30198
20249
31S36
49896
Ill 6240
68347 44973 lA365
15265 36673
22917
37922
46303 877S8 2226
72958
23- 42538 39242
Ill 30399
8508 86126
31333 71106
69907
22523
Sl760
U 967 S279S
60317
102596
7SS2 8S272
2778S
5769S
57262 39191
lll 39ill 11177
104071
s351 100618
102417
28S79 67733
12-46
72397
71SJ1
11SOSO
60958
sons
106613 u 12 66731
65684
~
45957
1S27J
126623 62708
129760
128822
32si
81136
S2amp06
M370 amp22S
133980
7~861 6391l
12656C S270S
1023
JWl 21195
17720 7418amp
158480
156200
36957 94708
105634
95506 11201
92S60 1 1-31
71305
lW 51248
242Sl
167 131 88 166
188953 II0064 3SJ1
1062S4
75988
U3m7
lOS693
164791 111281
84599
156117
lW 56231
27783 184912
98871 211)16
203563 S2078
116280
amp922
12279 116307
18619
128877 108028
lW 60S61 29i48
205461
110970 llS772 221))92
57645
128B91
94958 1613
1)t940
209167
147965
Siil 63067
31451
228570 120 l SO 258969
246076
66770
14012S
104169
190383
144573
227684
lW 67501
33179 250713
129218 291831
275891
73957
1SOS5
11661
2u1n 152813
Siil n38gt 37502
270969 139466
322187
298075
8033
161620
12602
235707
Jiil 295227 152319
34ABSO
32A-898S1
167434
137572
ma 84674
38987
317058
164644
370SOO 356319
98064 176090
1112 89190
40293 338117
H l180
415234
391371 102742
llZII 93743
43985 361616 18675lt
4S3432
114s1
lW 9SSgtI
9917 389135
202315 472517
lW 104246
59470
415819
21279
lW 110595
n122 37622
Jiil 116Q28
750S7
SW 121196
201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
raquoUQgt
lOUC 2ltgtUQ3_ 1013QJ 2ltgt13Ql
1013Q3middotmiddot- 201) 1015QJ 2ltgt15Ql
raquolSCU gt)1SQ4 gt)16Ql
raquo1Ql
gt)1Q3
201604 2011 201702 017Q3
201104
25 Jl 16 UI
JS
15 29
QI Ill QI 114 1Ml73 U0 am
717 lll m 216063
17222 11) 468
1A63J3 31 812 to857 36713
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York State Medical Indemnity Fund - 4 th Quart er 2017 Page 21 March 30 2018
INDEX OF EXHIBITS
Exhibit Description
1 Fund Payments by Benefits and Injury Categories
2 Project ed Ba lance Sheets and Income St atements
3 Act ual vs Revised Expected Participant Counts
4 Payments by Admittance Quarter
5 Project ed Payments by Admittance Quart er - Nominal and Discounted
6 Est imated Ult imat e Benefit s Payments by Admittance Year
7 Participant Profi le
Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
ll2A 20974 lS611
12ASl
lll 21962
50S2
40837
12534
16353
9670
6252 10204
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
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Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
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68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
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14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 1
As of December 31 2017 Fund Payments by Benefits Cat egory
Virginia Birth Fund
Percent
Benefit category 201704 201703 201702 FY 1617 FY 1516 FY 1415 FY 1314 FY 1213 Total Percent of Tot al Benefit CategoY ofTotal
Medical Treatment 351593 422421 397605 1111413 868110 573589 263209 35184 4023124 534 Hospital Based Care 239590 806184 1050283 1885043 2092358 1673039 300325 42922 8089744 1074 HospitalPhysician 140
Surgical care 55035 39970 42722 113032 146685 101149 18896 2190 519679 069
Nursing care 3432391 3336440 3831353 10627012 8153130 6438280 2345151 552120 38715877 5142 Nursing 6511 Dental Care 3183 16654 14592 43620 43956 28510 8619 586 159719 021
Rehabilitation care 71778 274055 380875 1135719 995410 630482 62821 60191 3611331 480 Physical The rapy 264
Custodial care 560326 560107 391187 1131480 485434 69581 9248 3207362 426 Durable Med Equip 352202 373949 364773 945751 880138 533009 416785 42169 3908775 519 Medical Equipment 187
Home Modifications 485772 467955 263254 1208614 674666 700673 292218 6110 4099261 544 Housing 1242 Vehicle Modifications 44379 56139 145296 249284 153585 180606 37247 866537 115 Vans 523
Prescription and Non-Prescriptive Drugs 618575 752359 784704 2537792 1669450 872352 281662 65176 7582071 1007 Prescription Drugs 099 Other Healt h care cost s 164077 49174 10598 46590 38122 43311 U976 360 365209 049 All Other 1033
Assistive Technology 442 500 1244 2186 000 Other Payments 11209 15388 25740 64014 14022 7404 (4) 8 137780 018
Total 6390551 7170794 7702981 21099865 162163 10 11851988 4049151 807015 75288655 10000
Note FY 1213 includes only 4th qua rter 20U a nd 1st quarter 2013 FY U13 doe s not include payments when Sedgwick was TP~ Some payments made in 2017Q4 allocated to 201703 to account for September claims payment
Claim Database t hru 2017Q4 3222018 ~ Pinnacle Actuarial Resources Inc
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
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Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
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10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
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6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
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60 1609
15181 9529
132 707 105 657 731
118971
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100258 644449 103984 1l704I
SOU)
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3195)
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230680
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42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
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3163952 73694
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601 061
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601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
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206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
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115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
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213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
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2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
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185-446 719
218-483 134 768 4010 270824
Sl-431
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81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 1
Quarterly Analysis of New York Medical Indemnity Fund Page 2 As of Deoember 31 2017
Fund Payments by Injury Category Total
Percent Total Injury Number of lnjury Category
Total Percent of Number of of Total Category Participant Annualized
Injury Category 201704 201703 201702 FY 1617 FV 1516 FY 1415 FY 1314 FV1213 Payments Total Pa~ents Participants Participants ~ quarters Severity Brachia Plexus 931 11781 6482 10549 11927 8466 2687 52823 008 20 388 264114 223 947
Erbs Patsy 17693 15066 15115 32885 34007 25 640 3617 144023 021 38 736 3790 422 1365
Spastic Oiplegia 3ns 25250 26137 58214 65865 53 702 232893 0 33 136 33 270 103 9044
Hemiplegia 12893 14756 21900 86939 18250 52 271 53464 4331 264803 0 38 16 310 16 550 213 4973
Mental Retardation 203286 117937 102187 433236 514888 176 580 32714 14964 1 595793 229 16 310 99 737 209 30541
Oeve-lopment1I Delays 320568 374705 393448 1251998 1265010 949 237 152 790 389 4 708144 676 62 1202 75938 791 23B09 Ne-urological Disabilities 577115 767969 699593 1788924 1130909 571830 169875 17260 5 723475 822 so 969 114469 653 35060
Spastic Paraplegia ssu 27165 9689 21081 39287 s1n9 160532 0 236 039 80 266 19 33796 Cerebral Patsy 1376748 1867176 22n089 5909418 4116581 3052208 1227845 212024 20039090 28 77 118 2287 169823 1539 52083
Encephalopathy 1208232 1436761 1662867 4109928 378S684 3244944 1055 853 209787 16714057 24000I 89 172S 187 798 1228 S4443
Spastic Quadriplegia 1S19221 1324748 1460176 3839667 2999106 2096547 675214 45764 13960444 20046 61 1182 228860 661 84481 Othe 323904 391201 344133 892244 640451 707 892 492 737 233864 4026426 578 27 523 149127 328 49103
Quadriplegia 129026 143991 80959 327236 272060 127 694 1080966 155 039 540483 21 205898 Not Available 93622 81040 31096 351832 1283S4 149 4S7 46031 68632 950064 136 155 118 758 159 23901
Total 5792545 6S99S47 71308n 19114lSl 15022378 11274197 3 912827 807015 69653532 516 10000 134 987 6569 42413
Note FY 1213 indudes onty 4th quarter 2012 and 1st quartelt 2013 MedCare invoices for prescriptions also excluded Some payments made in 201704 allocated to 2017Q3 to account flaquo September claims payments
Total Injury Category Severity = Total Payments Number of Participants Total Injury Category Annualized Severity= Total Payments Number of Participant Quaners x 4
Claim Database thru 2017Q4 3222018~ Pinnacle Actuarial Resources Inc
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
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Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
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--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
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--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
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11909 717 213939
11222 371
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9394
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10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
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60 1609
15181 9529
132 707 105 657 731
118971
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3195)
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230680
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42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
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120264 331801 66S
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601061
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16 o 15
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223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
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61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
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124 654
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124 654
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17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
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163 S8A 210815
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21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financia l Services
Quarterly Analysis of New York Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
With 250 Discount
Exhibit 2
Page 1
BAlANCE SHEET
Assets
Fund Balance
AtlVll17
2361102
l2Z
2706919
~
2449186
~
2219165
~
2418879
Pro)tlttions as of Flscal Ybullarpoundnd
~ ~
2571829 2674452
~
272333A
~
2714057
~
2640842
~
2501332
~ Future Benefits for Curent Participants
Future Administrative Expenses
7287916
1147045
7547199
1201195
8490168
1441462
9431884
1689698
10852685
1947195
12326138
2214440
13857704
2492435
15447927
2781229
17094511
3080312
18792080
3388736
20540632
3706480
Surplus(Unfunded Uabillty (6073859) (6041475) (7482444) (8902417) (10381001) (11968749) (13675687) (15505822) (17460765) (19539974) (21745779)
INCOME STATEMENT
lnltlal Fund 8alance Annual Funding Investment Income 250
ampUfil 2017bull18 bull
2361102
520000 14168
2018-19 2706919
520000 57236
2019-20 2449186
520000 51214
2020-21 2219165
520000 50840
2021middot22 2418879
520000 55194
2022-23 2571829
520000 58349
2023-24 2674452
520000 60220
2024-25 2723334
520000 60709
2025middot26 2714057
520000 59690
2026-27 2640842
520000 57064
Benefit Payments
AdmintStrative Expenses
176927
11424
783113
51857
738656
62579
297214
73912
336344
85900
377224
98502
419716
111621
464562
125424
512996
139909
561500
155074
Final FuOO Balance 2361102 2706919 2449186 2219165 2418879 2571829 2674452 272333A 2714057 2640842 2501332
Change In Fund Balance 345817 (257733) (230021) 199714 152950 102623 48882 (9277 (73215) (139510)
Benefit Payments as of Initial Fund Balance 75 289 302 134 139 147 157 171 189 213
Number of Participants
Initial Expected New
Expected Deceased
FinaI 511
511 26
535
535 104
8
631
631 104
9
725
725 104 11
818
818 104 12
910
910 105 14
1001
1001
105 15
1091
1091
105 16
1180
1180
105 18
1268
1268
105 19
1354
bull Income Statement represents period from 123117 through the end of the flscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
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Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
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10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
lll
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6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
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SOU)
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3195)
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230680
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42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
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3163952 73694
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601 061
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601061
171 220 911892 S62 490 601061
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206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
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10 141
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115 )61
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213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
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1246
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2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
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185-446 719
218-483 134 768 4010 270824
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101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New Yorilt Medical Indemnity Fund
Future Fund Balances by Fiscal Year (OOOs) as of December 31 2017
Undiscounted
Exhibit 2
Page2
BALANCE SHEn
Assets Fund Balance
At1Y3117
2361102
mI
2692751
~
2377781
~
2096547
~
2245421
Projection$ as of Fiscal YearbullEnd
mll ~
2343177 2387450
m1
2376113
~
2306128
~
2173223
~
1976648
~ Future BerMfits for Current Participants Future Administratve Expenses
17794148 3095741
18678037 3241887
22259093 3971339
26063489 4752346
30627340
5590708
35525144 6490604
40789504 7458071
46439539 8496587
52487666 9608339
58939176 10794338
65809675 12057434
Surplus(Unfunded Uabillty) (18528786) 119227173) (23852650) (28719288) 133972627) 139672571) (45860124) (52560013) 159789877) (67560292) (758904609)
INCOME STATEMENT
lnltlal Fund Balance
Annual Funding
At1Y3117 2017bull18 bull
2361102 520000
20J819 2692751
520000
2019-20 2377781
520000
2020-21 2096547 520000
2021-22 2245421 520000
2022middot23 2343177 520000
2023-24 2387450
520000
2024-25 2376113 520000
2025-26 2306128 520000
2026-27 217 3223 520000
Benefit Payments Admlnistratve Expenses
176927 11424
783113 51857
738656 62579
297214 73912
336344 85900
377224 98502
419716 111621
464562 125424
512996 139909
561500 155074
Flnal Fund Balance 2361102 2692751 2377781 2096547 2245421 2343177 2387450 2376113 2306128 2173223 1976648
Change In Fund Balance 331649 (314969) 28U3S 148874 97756 44274 (11337) (69985) (132905) (196574)
Benefit Payments as of lnftlal Fund Balaoce 75 291 311 142 150 161 176 196 222 258
Number of Partldpants Initial
Expected New Expected Deceased
Final 511
511 26
535
535 104
631
631 104
9 725
725 104 11
818
818 104
12 910
910 105
14 1001
1001 105
15 1091
1091
105 16
1180
1180 105
18 1268
1268 105 19
1354
bull Income Statement represents period from 123117 through thbull end of thbull fiscal year at 33118
New Yorilt Medical Indemnity fund as of 12middot31bull17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
gs
13107
ll1 2539
Qi
))ill
gz
2065
lll 9226
lit 6l32
llll 2670
llll 2621
llll 4983
llll 330
lll4 2506~- Ill
lS
llll 9878
ml 4680
llll 2614
Ill 4516
llZll 4SSl
llZl S070
lm ))
llZl 6349
llll S433
Im U68
2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
25 40
45
689
13371 2356
1890
13917
bull bull 779 l658
llSO
4710
10795
13797
630
15598
ll713 S920
ll022
17778
9 26132
17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
27
19
2S 20
19
32
Ul8
1223 as
~380 1973
200
S308
52113
l861
2257 3321
2BOS
52n 8218
32222
5473
2615
6536
650 1
8789
9212
1962bull 9lt)93
3646
12903 7S51
13432
14 13
10
S67 ll566
4 74
14193 15262
8379
7258
15lt]87
190Sl
14873
10 15 14838
10208
6QS6
lS973
S278 19602
lUlA
l874
13-Ql
5161
11973
10amp94
18900
ll903
4505
13571 21265 13081
13228
17699
6S73 1157
150ll
1763
10187 17583 a n 1
857 10026
ll236
19181 10614
21358
17S96
S567 12611
5734
19155
18633
23018 19()88
9125
11234
9212 9634
18518
7187
10430
125S
22989
6376
12065
9399
223JS
9517 11548
8214
8656
4678
2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
421 12991
1BampS
14039 11387 SOlS
ll234
4362
16886 5735
12313 4299
21351
13939
19941
10981
1l838
18601
lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
lll
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Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
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1572SO
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115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
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165 265 504408
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492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Exhibit 3
Quarterly Analysis of New York M edical Indemnity Fund As of Decembe r 31 2017 Actual vs Revised Expected
Fiscal New Participants Total Participants
Period Actual Expected Difference Actual Expected Difference (1) (2a) (2b) (2c) (3a) (3b) (3c)
Fiscal 2011-12 Total 2200 2200 2200 2200 Fiscal 2012-13 Total 8600 8600 10800 10800 Fiscal 2013-14 Total 8400 8400 19200 19200 Fiscal 2014-15 Total 9100 9100 28300 28300 Fiscal 2015-16 Total 8500 8500 36800 36800 Fiscal 2016-17 Total 9100 9680 580 45900 46480 580
2nd Qtr 2017 2900 2544 (356) 48800 49024 224 3rd Qtr 2017 1700 2583 883 50500 51607 1107 4th Qtr 2017 1100 2583 1483 51600 541 90 2590 1st Qtr 2018
Fiscal 2017-18 Total to Date 5700 7710 2010 51600 54190 2590
Fiscal 2018-19 Total 10366 64556 Fiscal 2019-20 Total 10360 74916 Fiscal 2020-21 Total 10386 85302 Fiscal 2021-22 Total 10417 95719 Fiscal 2022-23 Total 10473 106192 Fiscal 2023-24 Total 10518 116711 Fiscal 2024-25 Total 10540 127250 Fiscal 2025-26 Total 10529 137779 Fiscal 2026-27 Total 10500 148279
New York Medical Indemnity Fund as of 12-31-17 pmiddot Act middot R 32220181 1 I~ innac e uana esources nc
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
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ll1 2539
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2012Q1 11 gt083 2565 1AOlt 346 84) 2267 2670 409S S922 lOSS 3532 2()65 1728 4323 732 75) 1)06 3692 S932 9SSl ~852 2766
2012Q2 2012Q3 2012Q4
16
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13371 2356
1890
13917
bull bull 779 l658
llSO
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15598
ll713 S920
ll022
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17945 12018 29Sll
22SS2 17357
29142
21096
11480 28720
1911 13918
30gt73
17711
1070S
22362
20549 U 099 2 451
23109
9180
23196
22213 9()68
llW
20186
10248
29356
2258 12sn 22663
21131 12)06 25950
21060
9536 23499 1257
38148
27519 15561
19085
26M4 lQ419
21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
2013Q2 201lQ3
201lQ4
201Ql
2014Q2
201Q3
201404
30
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200
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8789
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ll236
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21358
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2015Ql 27 145 4- 5076 6919 7236 8544 10670 7919 ll139 125S7 aua 2M29 201S(U
201SQ3 31 16
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ll234
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16886 5735
12313 4299
21351
13939
19941
10981
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lA716
201SQ4
2016Ql 20
18 191
12
5104
931
5s9
10298
UOl 9142
16067
981S 10555
12341
12617 111723
903S 7292
2016ltU 35 290 2039 4599 7550 sn2 11891 70Sl 2016Q3 22 4303 9321 8150 9762 7706 2016Q4
2017Ql 15 19
l Q483 10491 9167
16950 11971
2017Q2 2017Q3
29
17
328 sno ~ o
6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
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20 1SQ2
20 1SQl
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2016Ql
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19 27 31 16
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191
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6506
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10483 6
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27333 7823
S557 2m
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7389
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918 9627
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ll2A 20974 lS611
12ASl
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11287
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37407
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129218 291831
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270969 139466
322187
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40293 338117
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llZII 93743
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4S3432
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202315 472517
lW 104246
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Jiil 116Q28
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201704 11 8l
Toul 516
Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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201604 2011 201702 017Q3
201104
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1A63J3 31 812 to857 36713
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lS361 16455 10141 n 17929S
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~
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ou
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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000 145380 183334
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uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Senices Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page 1
Increment~ Average Payments per Participant by Admittance Quarter AsofOrecetnbef 31 2017
- - Incremental Severity per Participant byhrtldpMion Quartet
201104 u Ill gz
lll 8569
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bull bull 779 l658
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29356
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21060
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38148
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19085
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21803
2013Q1 1S6 2171 734) 7418 17277 35542 32511 26405 2778 23 21499 17529 2-984 29BlS 22185 26411 31833 350S2 26()82
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2017Ql 15 19
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16950 11971
2017Q2 2017Q3
29
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6375
201704 11 83
TotI 516
Not~ 3NI Qt2017diagonal dlta adjJsted frcm prior anatysis to account for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Actuarial Resources Inc
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
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--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
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NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
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62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
- -New York Department of Financial Senices ExNblt4
Quarterly Analysis of New Yotk Medlcal Indemnity Fund Page2
Cumulathre Awrage Payments per Participan t by Admfttanat Quarter AsofOrecetnber 31 2017
0-nuMM ~ ~Fund h rtldpationQwarter
201104 2012Q1 2012Q2 2012Q3 2012Q4 2013Q1
20 13Q2
2013Ql
201lQ4
201Ql 20 14Q2
201Ql
20 1404
20 1SQ1
20 1SQ2
20 1SQl
20 1SQ4
2016Ql
20 16ltU 20 16Q)
20 16Q4
20 17Ql
20 17Q2
20 17Q)
11 11 16
25 0
27
19 25 20
19 27 31 16
20
18
35
22 15
19
29
17
lU
689
32
~238 1223
85
145 421
191
12
290
328
Ill 10amp3
ll16 3))45
156 1380
348
~981
U12 6546
6506
394S
SS1
1712
1885 5296 2329 4303
10483 6
6108
186
JD USS 3
27333 7823
S557 2m
3637 4786
7389
lA764
38728
918 9627
31ASl 985S
112ao
6928
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Not~ 3ld Qt2017 diagonaldata adjusted frcm prior anatysb toacoount for no paymet1ts made in Septffllbtt
Hew Yott Medk al Indemnity Fund as of 12middot31middot 17 3222018 ~ Pinnacle Act uarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
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105081
600632
lll
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2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
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612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
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115 )61
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80558 tn019 164559 264 241
69794 21 3J7 17618
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165 265 504408
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492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
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14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edilblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Incremental 8eMfits Payme-nts byAdmittance Quarter As of Oecembff )1 2011
lncNmellltlil llffllfttshid by hindPudpadcrl Quart-
raquoUQ4
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1A63J3 31 812 to857 36713
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U971 14125 137049 402 UBS07 80551 91 181 172019
lS361 16455 10141 n 17929S
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m 12070
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lit nno 1U11
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ml deg u osn
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ml ma 47626 21564 22710 11639
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l 3S4514 149015
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Hott 1tdOtr 2017dlaonal data ad)ustedfrom pnoratysl5 to accouMfor nopaymmts made In September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Actuarial Resources Inc
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
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uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
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Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
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60 1609
15181 9529
132 707 105 657 731
118971
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100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
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42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
--- -New Y0lt1c Dbullpartmbullnt of Flnandal Sbullrvlcft Edllblt 4
Quartfffy Anafysis ofNlw York Medkal Indemnity Fund Cumulative Bendlts Payments byAdmittance Quarter As of Oecembff )1 2011
CU-itlw IMllfltsbyFUNI P1nldpldon ~
raquo U Q4
raquoUQJ
lOUQl 20UQ3
10Ultl4 211lJQ1
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101SQ3
21116Qgt 21116Q1 21116Ql 21116Q4 2017Q)
2017Ql
21117Q4
16
30 17
19
10 19 17 31
16 10 11 lS 19 19
lll
n1
371
60
deg 3094S
1609 3902
137049
3
70
Ill 3
ll4 76U7 41 15841 ltO lJl
l30U1 74 960 mm 30164
ltl59U 508
1S7ZSO 122431
lll lli m lli
mm
59J70
437331 U 4 1S3 1 093SSS 1 313)11 (7089 622100 mm 104 l 278C81 1198927
U 6J7 48351 IS 4 17112S
109 114 196914 457936 990gt8 l7S521 623900 990171
000 145380 183334
U0389 107J8S deg 720517 H5179 1 157563 714 566 1 157055 144991amp 1 7551S
17194 JS1 7l2 S50336 444 04gt 639416 amp70096 1yenr7995 l 7382Sl 2 261 Ml
uun 214 ll0 184014 197098 169 117 69043 901 60 202325 165693 ombull 11248S9 299734 333$
3146 16 WOU
Ill 334 J91 937
l3710U 833319
1 44 l20 349Sl3
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1 S07937 lct1929 1 151115 2643417
1 03071S
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4 024 728 SU087 as357
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17SS213 2301 605 1158207
33QSJ09
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lli sossn 1pound1002
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6A 110
deg419251
1813023 1000636 219 596
1 72S676 3923 472
843272 1 80454
11111 390 4 233149
2J635l3 185690 6339199
l l087U 25$7 109
487637
2007 051 2J8765amp
2 944 150
deg 1 140
ml 563731
2574 090 2 20414amp
755amp133 90031
deg 607900 233amp152 164gt313 3295amp18 2 114 339
2284tn 4 83963amp
gu 3056lJ
2 471773 1 Cll7815
1 1m J 13951
n3791
1 1 90769 3 722974 29161Sl
Qll
16
311321 32VDI 2714240
900 1 lil5460
11293S6 3480047
7S962 3057251 33734-93
4 lUJJ6 2au na
ma filH7U
3657 115 3(1(8145
103Sfl743 1 Z30378
2003 100
3113 J67 3617271 31A3JJ 4 553690
~ 742SlS 9
4 012529
32J0451 ll 7U25a 1 3794$3
221amp rn 4 064970
932996 382031
llll 851 lni
412Sll
3 486654 118amp7481 1 49037 2 410COI
bull HOn1 1 008190 4478436
QU 4511
4 7236Z7 ll7MCIOS
1 622 2 269515 rnonz l l0057
llll 931 410 4 28858
4 ll6 105
14amp320U 1781 597
2Ml 926 4 7SU14
ms 9Sl 08amp
soan 1611 3ampamp
1 956amp55
10122n
mil 1ou ns 4688Sl
l ampU7294 2087 27
JW 1086949 6226162 50578
189008
ml
663Ul3 S 319139
ml 1216546 7001918
ma l 176J04 ll961
SW 1 3JJ154
Ia l 3JJ lS4
82S961 7001 94amp
S319al9 1U 01l6 2087267 3082271 4 1S4 424
1 100574
4 4784 36
3820U8 4 553 690
2811 JJamp
2916752 m om 180454 11828 1 371684
S6333S 74amp4S
76898S
362013 316amp9
910
nm004
Mlte 1tdOtr 2017 dlilgonal ampu adjuncdfngtm prioratysls to accouM 3r nopaymmts madeIn September
NewYork Medal Indemnity flld asofUmiddot31-17 31222018~ Pinnacle Act uarial Resources Inc
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department ofFinancial Services QuarterlyAnalysis of New Yoric Medical Indemnity Fund
Projected Incremental Nominal Payments per Participant byAdmittanu Quarter As of Decembet 31 2017
Exhibits
1
lnaemental lfflefia hid by FIWld hrtidpatlon ~ -middot -9 2011Q4 2012Ql 2012Q2 201Ql 20124 201JQl 01JQ2 OllQl
11
11 16 2S 30 r
lll lll
11909 717 213939
11222 371
780 41406
9394
lll 28215
22261S 119468 146H3
10857 67708 89664
9 14417 21606l 117155 431812
71 441
11462
ll 7926
22010 1607-41 W9l4 37090
1093169 348 379
9 42 161
927S 219402 148012 161013
91 22120 24 k2
284 4S6 211218
1 045 294 moe 21174 t073S1
9 10183 281128 00445
120508 162 5S4 U167S 431 269
9 69656 45050
360amp15 433929
1 165671 132023 116207 61 8U
92 29373 65 147
l37 S40
26997 1 148800
136890 135 157 366426
lll 3607
3 105n 349458
1 218933 119318 191202 311761
9 54 812 38857
284 497 261625 894 490 111 497 2S6 410 270692
lll 47626
22110 790
302 461 918 23 8145
16102l
9 2754 176l9
69 738 229506 921857 124 918 213143
0310
ill 19004
355414
226106 13S4514
1490S 215624
lll 108661 475SS
322 973
deg 1174223
110923 1912ampS
I 51 481
SOSO 88125 321 808 9064
ll 87
9296
307643 1 038009
lll 49618
238 399
S 50087 40610
315984
lll ssm 6amp249
Ill 59762
105081
600632
lll
385028 60062
Ila 30423
2071 l87 21287 38S
6006)2 201JQ4 gtOlltQl 201Q2 gtOlltQ)
gtOlSQl
19 2S o 19
60 1609
15181 9529
132 707 105 657 731
118971
22 42
100258 644449 103984 1l704I
SOU)
166996 tn768 184 125
SS080 143 414 33S 796 2amp2 863 198623 195 370
3195)
1fi9659 222 313OS 159 20)
230680
152406 2amp2592 350314 296163 193955
42 227 312 432 2496n 2S4 713 212128
41 185 227412 21253 in991 264161 S4 7S3
68386
404028 117022 264 554 33627S
120264 331801 66S
20S891 64 447 26SJ46
45872
3163952 73694
62Sn4 562 490
601 061
911892 S62 490
601061
171 220 911892 S62 490 601061
4006 n 1 220 911892 S62 490
601 061
1486)S
612212 6 10069 72137 U S 847
148 635 612212 6Ugt069 121 37 127 UO 11SM7
H863S 612212 610069 206099 127130 l35847
148 6)5
612212 174 305
206 099
130 llS 847
015Q2 31 137049 402726 435 224 2996 410257 S2U51 381 114 661892 111682 1176828 1 130352 1 ll0352 1 130352 322958 255 473 2SS 413 255413 255 413 015Q3 Ot5Q4 2016Ql 2016Q2 216Ql 016Q4
16 o 15
210
10 141
30164 102088 164 71 361 94 668
1572SO
103 501 91 181
115 )61
160956 205067
80558 tn019 164559 264 241
69794 21 3J7 17618
9175a 211106
68m
165 265 504408
16526amp 484 766 7M26S 504408
492 111 484766 884ampS4 265
4085 416472 689026 4S4 157
213 496 443085 436412 796 689026 1291S9
223 bull96 223 496 436 472 436 472
796 702 227629 1968M 19686S 129759 1291S9
214 610 42S S86 119181 189090 1246)5
214670 121 596 119181 21840 189090 124635
61334 121 596 119781 2186deg 189090 124 6l5
61 334 121 596 119781 218640 189090 124635
4851 96 188 94
1n9S3 149 S18 98591
48518 9412
172 953 149 578 98591
48518 96 188 94152
172953 149 S18 98591
48518 172953
149 S18 98591
2017Ql
201702 19 19 1 05 768
703 454 1053768
103 4S4
1053168 637148 955 341
6377-48 9SS 341
631748 95S 341
631748 27295S
164061 145 762
164061 245 762
164061 245 762
1154 061l4S
157 581 2)6 056
157 S82 1575amp2 2360S6
1S758l 236056
124 654
186131
124 654
186131
1246
l86731 12A6S4 196131
2017Q) 2011Q4
17 11 414 880
668 315 06174
668315 436174
668 315 436174
668 31S 436174
605891 19lt 434
605 891 112 981
113112 112 981
173112 112981
155866 Ugtl 726
155866 101726
155866 101726
155866 101 726
149 710
97708 lA9 710 97108
149 710 97708
149 110
97708 1184l1 17291
118417 n 118427
17291 118 417 n291
Total St6
Sources
NYMIF for Funddatacalculated diagonals based ~ Exhibit6 lnduted lltiffwte Sewrity Note 3nl Qtr 2017 dh1gonal data adjusted from prioranalysis toaocolfflt for no~ ntsmacleln September
~ Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
--New York Oepanment of Financial Services QuarterlyAnalysis of NewYork Medkal Indemnity Fund
Projected Incremental Nominal Payments per Participant by Admittance Quarter As of ~bet31 2017
Ill 9 gn 9 91 91 Ill 9a 2011Q4 11 ~ US996 US996 135996 U9749 139149 1391-49 U97bull9 2012Q1 11 7S 506 1S S06 7S S06 7S S06 11 590 nS90 17S90 n590 201202 20UQ)
16 25
na 034
551163 118 03-4 557 163
118 034
S57163 718 034 5 7 163
73785 12 543
131 ampS4 572 S43
73785-4
163 S8A 210815
20UQ4 2 073 SOS 2 01 SOS 2 073 SOS 2 013 SOS 2 llO 740 608783 60873 2030 213 107 233 107 2]3 107 233107 68Ul 8 4Al 8lt41 1 201)0 30 3854SI 385 458 38S458 110131 113171 113111 Ul 171 113171 201303 203Q4
21 661 311 148 801
661 371 -42 51
188 963 42 515
188963 42 1
194 179 43688
194179 194 119 194 179 201AQ1 19 175 lll 11S U l 17S 131 17S Ul 179965 179965 119 179965 201Ql 25 174 SOO 114 500 174 SOO 174 SOO 179 317 179317 179 317 179317 20IAltU 0 206 3lO 206330 206 3)0 206330 212 OlS 212 025 21202S 212 OlS 20IAQ4 19 121212 1212n 121212 1n2n uo1ts 130 785 deg 130715 201SQl 27 135 999 135999 US 999 llS 999 139 7J 139 7S3 1l9 7S) 1397Sl 201502 )1 2SS 1S9 2SS 759 25 7S9 2S5 759 262 819 261819 262 819 262 819 201S03
2015Q4 16 20
48S72 96 29S
-48Sn 96 295
48572 96 295
48S12 96 l9S
~91l 989Sl
-49913 ~913 98953
49913 2016Q1 18 94858 94858 9488 94858 97-417 97 417 97-417 97 417 201602 35 17) 147 113 147 173 1-47 1731-47 117926 117926 117926 111926 201603 22 149 7-46 U 9 74 149 746 149 74 153879 mm 153879 153819 2016Q4 15 98702 98702 98702 9870l 101426 101 426 101 -426 101 426 20170l 201702
19 29
124 194
1169t0
124 794
186940
124 794
186940
12-4 194
116940
128 238
192 100 238192100 128238 192 100
12 2)j
192 100 2017Q) 17 118 S60 118 S60 118 SltO 118 S60 121 83J 121833 121833 1218l 2017Q4 11 n318 111n nna n111 79S14 1914 19S14 79514
Total S16
Sounes
lff MIF for F-d dataalcufatecl ciqonab based on Exhibit6 lndatedUltimate Sewrity HotekII Or 2017 diagonal data acfJUsted from prioranalysis toaccount for nopayments mNe in September
UhibitS
P~gt2
Incremental a-fits Paid by klftd ~Qualter 9 Ill 38610 38610 21437 21 437
20385 20J ampS4 158112 158182 588 680 588 680 66 181 66181
109 434 109 434
18111i7 18717 42 246 42 246
114022 174 022 173 396 17) 396 20S 024 2QS 024 126 466 126 466
us 138 115 138 254 141 25 141
-48265 48 MS
9S686 9S 686 94 2S8 94 2S8
1nos1 112os1 148798 148 798 98(117 98017
U 4 004 124004
18 756 l ts 7S6 111810 111810 16888 16 888
9ll 13SUS 21437
203
158 182 588680 66181
109 434 187 761 42246
174 022 173396 205024 126 466
135138 2S4141 48 206 95686 258
172051 148198 98011
124004 18S 756 117810
76888
9 91 38610 19696 21 -437 2200
2Qa8S4 lcraquoS90
158 1amp2 162 633 588680 60 246 66 131 6100
109-434 112 SU
187 761 193051 bull2 246 43-434
114022 171919 113 396 171275 20502-4 210793 126-466 130025 us U8 1389-41 254 141 261 292 -48265 49 623 9S686 -98379 94258 96910
172051 176892 13198 1S2 985 98011 100amp37
124004 127493
18S 756 190 914 117810 121 us 76W 790S2
9 -41 144
22844 217 2l6 168566 61712-4 116618 20009)
-45019
185-446 719
218-483 134 768 4010 270824
Sl-431
101967 10046 Ul34S 158566 104 sis 1l2 144 197950 us S4)
81935
9 -41144
217236 168566 621314
70525 116 618
deg4019 18 446 149 218 483 147 144 010 2082A
Sl-433 101 967 1004A6
113 345 1S8
104515 U2 144 1255-43
81935
9l 41 144
22844 211236 168Sti6 6l7324 116618 200093 45019
185 4-46 18lt 779
2U483 l lA 78 1440 10 270 824 S1 43l
101967 100446
1amp3 345 158 566 104515 132144 191950 12SS4l 8193S
9 43250 24 013
22 351 111 192 659-4lS
74 134 122585 210332
-47 l22 194935 194234 229661 141665 151 319 284682 54065
101 ias 105585 192n1 166680 109864 138906 131967 86U8
9 43250 24 013
22835 177192 66942
7-4 134 122 S8S 210 312 4 322
194 93 194234 229 663 141 66S 11 379 2M682 107 18S 10SS8S 192127 166680 109864 10 906
208 080 131967 86128
9l 39696 22040
209 590
162633 605 24 1US13 193051 43 434
118919 17827S
210793 13002S 138941 261 292 49 623 98379 96910
176892 1Sl 98S 1008]1 127493 190 121 US 19052
m gt09590
605 146 61043
112513 1nos1 43-434
118919 171175 210 793 13002S
138941 261292
49623 176892 15298S 100837 1l7 49 1909 121 llS 79002
92 22040
161633 60526 112 13 193051 178919 178 275 210 79] 130025 1]8941 261 292 4962] 96 910
176892 152 98S
100 8l7 121 49] 190 121 US 1902
41 14-4 217236 168566 617 324
70S2S 116618 20009)
-4S019 149 218-48) 1l4 768
14A010 vow Sl-4U
101967 100446
113345 158566 t04SlS ll2 14-4
197950 us S4l
81935
9 4)
240U 228352 117192 6S9 425 714
122 SIS 210 332 41322
19-4935 194 229 663 141 665 151 319 28A 682 107 l8S 1os sa5 192 727 166680 109864 10906 131 967 86128
9 -43250
24013 228352 117 192 659 425
74 134 U2S8S 210 332
-47322
194935 19424 229661 141665
151 379 107 18S 192127 166680
138906 208080 131967 86128
9 -4 396
220 2)9612
U5983 692 142
17812 128 661 220 49670
gt04607 203871 2410 7 14869)
1Sl889 298806
56748 112 S03 110824 202 219 174 950 11l14 14 798 218 404 138 515 90 401
92 25204
239 682 18598] 692142
77812 128 667 220768 49670
203171 241 QS7 158889 567
112 SOl 11124 17-49SO
11531414 218 404 138S1S 90401
~ Pinnacle Act uarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quamr1y Analysis of New Yoftt tffdical Indemnity Fund
EgthibitS ProjKted Incremental Nominal Payments per Participant by Admittance Quarter M of December 31 2017
-- 9 9 9i 9 9ll IIIICfefflental lenotfits hid bffYnd PMtidpatioftQuarter
92 ga 9 ~ 9 9 9 9 After9 _
2011Qt 11 4596 45 396 4903 490a6 49 036 49 036 477l) 47713 47713 47713 48113 48111 4Ull 48 113 15666172 19474669 2012Q1 11 2S204 deg 27225 21225 2722S 2722 26491 26 491 26491 26 491 26713 26713 26111 26113 8 10920214 2012Q2 16 219 682 239682 2S8904 2S8904 2S890I 2S8 904 251917 251 917 2S1 911 251917 25 021 254027 254027 2S4011 8l 714 17) 103184 713 2012Ql 2012Q4 201Ql 2013Q2 2013Ql 2013()4
bullbull 27
185 983 692142 n812
128 667 22078 49670
11S98l 692 142 nu2
128667 220168
bull9670
200899 747 652 8402
138936 238 413 Sl6S4
200899 747652
84052 138986 218413 53654
200899 747 6SJ
84052 138986 238 473
S36S4
200899 19Sm 7476S2 721474 8402 al 784
118986 U5US 238 47l n2031 S2 206
19S 4n 727 474 784
135215 232037 52 206
1954n n1474 St 784
135 23S 232037 S2206
19S 4n n7 474
81184 us 235 232 037
S2206
197114
S66 82469
1316 3168 213980
197 114 733566 82 469
136368 233980 5260
197 114 73566 82469
1
2319t0 197114 133566 82469
136)68
2l980 52643
6 183111 238 859936 26 853086 44 40J 350
7i 187445 17141322
80101117 2971S1 l44
31 497930 5S 233 28l
94 598068 21395999
2014Ql 2014Ql
19 20t 607 20 111
204601 200871
2210 16 220121
221016 220221
221016 220221
221 016 220221
215052 214 271
21SOS2 21 218
215052 214 211
215051 214 278
216 852 216 012
216852 216 072
216 852 216072
216152 216on
7061039 703S6 211
81417666 81824639
2014Q) 20 241 057 2A1 OS 260190 26090 260 390 260390 253 362 253 362 253 362 251362 2SS484 2SS484 255484 2SS484 amp3 Lt9 372 10t 314 134 2014()4 201SQ1 201Sltl2 201SQ1
19 27
16
148 693 151119 298806
14869)
1S8889 S6148
160618 111632 122n1 61299
160618 171 632 321771 61299
160 618 ln32 122n1
61299
160611 171 632 u2n1 61 299
156284 167000 314060
S9644
1562amp4 161000 ) 14060
156284 167000 314060
S9644
1S6 284 167000 3 14 060
S9644
1S7S92 16899 60144
157 592 116690 60 144
157592 168399 316690 60144
157 592 168399 316690 60144
51 114 358 5 amp33099
10) 118181
19 Sil 712
64 61S 524 69 245 147
13007604 2S019938
201504 2016Qt
20 1U503 110124
112 SO 110824
121 526 119 712
121526 119112
121 526 119 711
121 526 119 712
118 246 116ol1
111 246 116481
118146 116481
111246 116481
119 236 111451
1192316 11757
119 26 117457
119 236 11757
1812500 l8 2S626
49 009208 -4111705amp
2016Q2 2016Ql 22
202 289 174 9SO
202 219 174 950
218 Sll 188980
218513 188980
218 5lJ 188980
218513 188980
212616 212616 183880
212 616 113180
212 616 183880
21bull l96 185 420
214 396 185410
21396 18S 420
214 96 185420
69 110S29 60375514
81577gt67 n no111
20Ui04 1S 115114 115)1 124 562 114562 124 562 l lA S62 121 201 121201 121201 121201 122216 122 216 122 216 122216 39195 246 50151617 201Ql 2011Q2
19 29
145198 1bull5 m 2184deg
151491 235919
lS7491 215919
1S7 491 235919
1S7 491 235 919
1532AO 2292
151240 229552
153240 229552
153 240 129 552
15523 231 475
lS4 S23 n u 1S
154 Sll 231 4S
1S4523 231 475
50115095 1S 171 SIO
63180594 9072196
2017Ql 2017Qt
17 11
118515 90401
mm 90401
149 614 97652
149624
976S2
149 6lA 149 624 97652
1A5 586 95016
14S S86 95016
145 S86
95016 14 S86 9S016
146 80S 95112
1468QS
95812 146 8 9S812
146806
95812
47 801 186
11 197129 60 301 S9S 39 468 )56
Tot1 S16 Total thru2011Q- 1855191 755
rt Mlfflaquo kind ~ cdoate6d iagon~s ~on uchibit 6 Indicated UlimateSeYerity Note lrdCltr2017 diagONtldataadjusted from prior anlllysis to KCOUntfor nopayments made In September
~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Qua rterly Analysis of New Yorilt Medical Indemnity Fund PTOjeltted lncnmental Discounted Payments per Partldpant byAdmittance Quarter As of December 31 2017
Exh[blt s Page4-
Admittance- - Incremental leneflts hid br fund hltlcrwetion Quarter
2011Ql
2012Q1
11
11
ll1 Q1
3146
11909
III 2215
JI 1173
15
lli 27926
3802
lit 42167
9275
lll 22720
24-942
Ill 01483
29365
ll2 69656
450SO
w 29373
6517
jW
28B27
33607
~
5812 38857
ml 47626
22710
11li 27564
17639
IIIi 4amp782
Jiil 108661
4 7SSS
ml 51481
80SO
WI 28752
8287
ll12 49678
14-368
~ 50081
40610
lW ssns 65249
ga ~
69834
141372
Jlli 59758
3)423
2012Q2 16 717 213939 222675 216063 220760 219402 2ampt456 287128 360835 337540 310577 lM497 328 369738 lSS14 322973 388125 349296 336954 375984
2012Ql 25 17222 58895 119A68 117755 160748 148))12 211218 300445 433929 286997 34958 267625 2461 229506 226706 256203 321808 307643 238399
2C12Qlt 40 371 75588 146lll 431812 623934 520889 1045294 1180508 1165671 1148800 1218933 894(90 978263 927857 13S4S14 117223 1038009
2CIJQ1
2013Q2
2Cl3Q3 30
27
780 9394
10857
67708 36713
78441
176462
37090
109369
348379
86384
161013
366278
177708
217746
407351
162SSoe 181675
431269
132023 116207
361886
136890
135157
366426
119318 197202
311761
117497
256410
270692
87645 167023
34048S
124918
273743
303310
149075
215624
110923
19128S
648510 644519
228574
375637
60552
227168
373325
636610
2013Qt 60 15787 2242 52010 55()80 37953 152406 4 2227 middot~285 68386 120264 105891 45872 73p94 134449 145010 144 117 143230 142349
2014Q1 19 602 39529 100258 166996 13474 269659 282592 372431 227482 404028 331801 36447 759803 755 127 593662 590009 586378 582769
2014Q2
2CIAQ3 201AQ4
2015Ql
25
20
19
27
30945 ~ 3902
132707
105657
73151
118971
20542
64449 103984
137))48
230289
392488 172768
lM125
335796
282863
198623
195370
222383
305247 159203
23)680
350374
296763 193955
280346 272353 2496n 1n991
trade ~713 264161
212718
327022
264554
336275
254665
351669
265346
6 14292
574872
610512 582792
757069
889651
55393
579206
75210
884176
542037 575641
747779
878735
538701
572099
587886
690840
423514
128506
584268
686588
120259
127715
580672
194961 119519
126929
164885
193761
118784
126148
2C15Q2 31 1370C9 402726 415224 352996 410257 523451 381714 661892 1148124 1141059 1089250 1(182547 1075885 5504 240180 238702 237233 215773
2015Q3 16 30164 103507 80558 69794 9 ~758 68778 219395 218045 216703 215370 205591 204326 58020 57662 45333 45()54 4n1 44501
2C15Qlt 20 3829 102088 91181 172019 321337 211106 483081 432278 429618 426974 424346 405079 115025 114317 113613 89)20 88no 88224 87681
2016Q1 18 210 16754 185361 164559 475871 472943 423206 420602 418Q13 41541 113308 112611 111918 111229 8745 86907 86372 8SB41 2016Q2 35 10141 71367 160956 264242 863272 857960 767713 763C)08 758313 215327 205551 204286 203()29 201779 158634 157657 156687 155723
2016Q3 22 94668 20SQ67 751223 746600 74200S 73738 659886 655825 186226 185079 176676 175589 174508 173 34 136350 135511 134677 133B48
2C16Qlt 15 157 lSO 492105 489077 486Q67 483076 432273 122747 121991 121240 115736 11S023 114316 113612 89319 88769 88223 87680
2017QJ 19 122431 686296 618364 614558 610776 607018 155 195 154240 153290 152347 145430 144535 14365 142761 112215 11155 110asa 110176 2017Q2 29 103lA32 1028Q66 1021739 920603 914938 909307 258203 231()49 229628 228214 226810 216512 215 179 213855 212539 167093 166065 165043 164Q27 2017Q3 17 652015 648002 644014 580267 576696 163756 162749 145633 144737 143846 142961 136470 135630 134796 133966 105321 104673 104028 103388
2017Qt 11 407267 425536 422917 420JlS 417728 376380 106875 106217 105564 2 93881 93303 92729 88519 87974 87433 86895 68314 6789 67476 67061
Totll 516
Soulaquo bullbull HY MIF forFund datacakulated diagonals basedonCchibit 6 frldicattd Ultimate Seovtriryanda ci1count fldCNof 25 Note ltd Qtt 2017diagonaldall a djusttd ftom priOtanatysis to accountfOt no paymttIIS madeInSeptembe
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Departmentof Financial Services
ltluartMYAnalysls of IMw Yo rilt Medical lndbullmnlty Fund
ProJbullcted lncnmental Discounted Payments per Partld pant by Admlttancbull Quartbullr As ofDecembetll 2017
poundxhtbltS
Paces
lnaemental lenetltsPaid byfWICI hrtidpadonQuarter
2011Q4 11 ~ 135159 134327 133SOO 136341
ll1A 135502
lW 134668
lW 133839
lW 128623
Jlll 36523
Im 36299
IUi 36075
Jiil Jlll 36615
Im 36410
IIIQ
36186
11l 37275
QS
37045
w 36818
llli 36591
~
bullbullm llli 37991
llSl 37758
119
37525 3915
lllQ 38904
2012Q1 11 75041 1579 74 121 73664 75232 7 769 74309 73851 20278 201S3 20029 19906 20340 20215 20091 19967 20568 20441 20316 20191 21Q93 20963 20amp34 20706 21600 21467 2012Q2 16 709223 704859 700521 696210 7U014 706649 702300 199422 191650 190471 189299 18S134 192237 19105 189879 188710 194390 193194 192005 190823 199354 198127 196906 195696 20-11 202885
2012Q3 2012Q4 201JQ1
25 S46940 2022932
226022
sus1 2ot0482
224631
S40229 1998 109
223249
536904 1985811
221875
548329 2028069
6742
5495 575882
6343
154743 572138
63947
15379 1 568816
63554
147797
546648 61on
146888
53284 60701
14598
539941
60328
145))85 536618
59956
143250
548323
61264
147338
544948
60887
146431 51594
60512
145SlO 538261
6010
149910 55463
61950
148988 5510Sl
61569
148071 57660
61190
147160 544290
60813
153738 56862()
63532
152192 565121
63141
151851 56160
627S2
150917 558 187
62366
157430
582275 156461 578692
M657 201JQ2 0 371443 369157 366885 104119 106396 105741 105090 104444 100373 99756 99142 98532 100681 100061 99445 98833 101808 101182 100559 99940 104- 103765 103127 102492 106915 106257
2013Q3 27 633401 629502 111751 tn651 181131 180315 119205 17amp102 171161 170108 169061 168020 171685 170629 169579 168535 173608 172540 171478 170423 11 176945 175856 174n 182316 181194 20 13Q4 141631 40217 39969 39723 40569 40319 40071 39824 38raquo272 38037 37803 37570 38390 38153 37919 37685 38820 38581 38343 38107 39811 39566 39322 39080 40767 40516
20101 19 165666 164646 163633 162626 166087 165065 164049 163039 156685 155721 154763 1S3S10 157165 156198 155237 154281 158925 157947 156975 156(I09 162983 161980 160983 159993 166897 165870 201AQ2 25 164054 163 162041 1611)44 1671 163458 162452 161453 155161 15lt206 153257 152314 155636 1s4678 153726 152780 157319 156 10 155448 15449 1 161397 160404 159417 158436 165273 162S6 2016Q3 20 192784 191598 190418 1amp927 19327 192084 190902 1amp9727 182333 181211 180096 178988 182192 181766 180648 119536 184- 183802 182671 181S46 189662 18895 187335 186182 194217 193021 2014()4
20 1SQ1
19
27
1181amp5
125512
117457 124739
11673 123972
116Q16
123209
118W
125830
117756 125056
117031
124286
116311 123522
111778
118708
111090
1119n
110406
117251
109727
116529
112120
119071
111(30
118338
11074
117610
110063
116886
113376
120405 112678 119664
111985
118927
111)96 118195
116271 123419
115555
122719 114844 m-
114137
121213
119063
126444 118330
125666 2015Q2
20 1SQ3 2015Q4
2016Q1
31
16 20
18
23lt584
44ln 87239
85408
233140
44()04 86702
84882
231705
43733 86 168
84360
230279 43A64
BS638
83841
215180 87460
85625
233732 4116 86922
85_Q98
middot 86387
8457
23064
43575
85BS6 22167 bullU876 amp2510
80778
220502
bullU619 82002
80281
219145
bullU63 81497
19787
217796 41108
80996
79296
22257
4200S 82762
81026
2211n 41746
82253
80527
219816 4 1489
8177
80031
218463
41234 81244 79539
225039 42475 83689
81933
223654
4221 83174
81(29
222278 80928
220910 82154
230785
43560
BS26
ampt025
229365
43291 85298
83508
2279SJ
43025
Mm 82994
226SSO
42760 84251
2)6327 87B87
86043
234173
44331 87346
85513 2016Q2 35 1S4938 153984 153037 152o9S 155lll 154375 153425 152481 146539 15637 144741 143BSO 146987 1A60B3 15184 144290 148634 147 719 146810 145906 152429 15191 150SSS 149632 156069 155128 2016Q3
2016()4 22
15
133173
87238
132353
86701
131S39
86 168
130729
BS637
133511
87460
132690
86911 131873
86386
131061
85BS5
12595
82509
115179
82001
1244()8 12363
80995
126340 amp2762
125562
82252
124789 81746
uo21 81243
127754
83688
126968
83173
126187
82662
125410
82153
131o16
BS25 130210
85297
129409 an2
128612
84250
134163
87B86 133337
87345 2017Ql 19 109620 106946 108275 107609 100899 109223 108550 107882 103678 103040 1024()6 101776 103996 103356 102719 102087 105160 104513 103870 103231 107845 1071amp2 106522 105866 110435 109755
2017Q2 29 163200 162196 161197 160205 16361A 162608 161607 160612 15353 153403 152459 151521 15826 153873 152926 151985 156560 155596 154639 153687 160557 159569 158587 157611 16413 163401 2017Q3
2017Q4
17
11
102867
66723
10223lt
66312 101605
65904
100979 103128 661192
102493
66480
101863
66071
101236 65665
97290
63~06
96692 62717
96097
62331
95505
61948 97588
63299
96988
62909
96391 62522
95798 62137
98681 98074
6361
97471
63222
96871
62833
10120 1
65642
100578
65238
99959 99344
64438
103631
67218
102994
66805
Total 516
NY MIF tor Funddata calolated diagonalsbased on Ellhibit6 11dkatedUltimate Severityanda disiooutltfacto Of 25 Nott 3rdQtr 2017 clagonal data adjusted from priot analy$is t o account for noJ)aymenu made in 5epcemblaquo
New York Medk al lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
-- -New Yorilt Departmentof Financial Services Exhtblt s Quartbullrlv Analvss of New Yorilt Mtdlcal lndomnltv Fund Page6
Projocttd lncttmontal Dlscounttd Pavnonts per Participant bv Admlttana Quarter As of Oecember 31 2017
lncrenwntal lendts lid by fund hrtldpltion Qigrter
IW IW lll1 Ila w ga IW ga IW lllll w lli4 llU ~ lalll 2011Q4 11 8426 bull 1253 40999 40746 40A96 39160 38919 38600 3852S 38288 38052 37818 S21117 8826966
2012Ql 11 2133S 21203 22763 22623 22484 2234S 21608 21475 2133 21212 212S8 21127 20997 20868 2amp92009 4985336
2012Q2
2012Ql
2012Q4
201)(U
16
25
40
201636
lSS498
575131
64259
20039S
11 571591
215135
165908
613613
68561
213811
164887 68139
212495
163872
606103
67720
211187 602373
6130)
204223
15793
S82S09
615084
202966
156S2bull 578924
64683
201717
15S560
57S362
64285
200176
15603
571821 63B90
200910
1S4938
S73061
64028
19967bull
153985
S69S3
6363
198445
153037 566029
63242
197224 1S21)9S
562546
62B53
27332673
21078458
77961540 8710645
46S268M
3S967014 132872167
14890862 2013Q2 0 105603 10lt9S3 112673 Ul979 Ul290 110605 1069S8 106300 l OS646 10499S 105223 l(W576 103932 103292 14314985 24346859
2013Q)
2013Q4 27 180079
40266 178971 40D19
192llS
middot~962 190952 42698
189777 188609
42174
182390
407amp3
181267
40S32
180 152
lt0283
17903
4003S 17901 40122
178327
39875 177229
39629
176139
3938S
24o110SS2 S458302
41398872
938062S
2014Q1 19 164849 1638JS 175885 174803 173727 172658 166964 165937 164915 163900 164256 163245 162240 161242 22346()40 38731664 2010 25 16324S 1622lt0 174173 173102 172036 170978 165339 164322 163311 162306 162657 161656 160662 159673 22l28S96 38126012
20140) 20 191833 190653 204676 203416 202164 200920 19)))99 191910 190729 191143 189967 188798 187636 26003881 4S32333
201bullQ4 19 117602 116878 125475 124703 12393S 123172 119111 118378 117649 11692S 117179 116458 US741 115029 lS941466 28))66199
201SQ1 27 124893 124124 U325 13243lt 131619 130gt09 126495 llS717 12490 124174 lli43 123677 122916 122160 16929775 300S9216
201SQ2
201SQ)
201SQ4
2016Q2
31
16
20
18
233427 86B09
84987
231991
43787
8627S 1490SA
bull1ooa 92620
90676
247S21
46718 920SO
90118
245998
46431middot~ 89564
244A84
461s
90921
89D13
236422
462
87922
86on
234967 87381
233521
44076
86M4
ampS021
232o84
43BOS
86309 232587
0900
86f96
84681
231156
0 630
85964
SA160
229733
43361
8S435
83642
228319
43D94 amp3127
31642093
5972298
11767319
11520367
560l688
10918576
20947118
20438953
2016Q2 35 lSA174 1S322S 164495 163483 162477 161477 156152 15S191 154236 1S3287 153619 15267bull 15173 150BOO 20898951 36736612
20160)
2016Q4
21
15
132516
86808
131701
86274
11388
92619
140518
92049
139653
9J48)
138793
90920 13216
87922
13)390
87380
132570
8684)
131754
86308
132039
86495
131227
8596) 130419
ampS434
129617 17963189
11767192
316337SS
21151377
2017Q1 19 109DOO 108A09 1163amp2 115666 114954 11247 110479 109BOO 109124 108452 108687 108019 10715 106693 14786281 26717816
2017Q2 29 16239S 161396 173267 172201 17111 170 164479 163466 162460 161461 161811 160815 159825 158M2 22oll410 39344566 2017Q)
2017Q4
17
11
102360 101730
6598S 109212
70838
108540
70402
107812
69969
107208 69S39
103673
67245
1030lS
66832
102401
66420
101771
66D12
101991
66lSS
101364
65748
100740
65343
100120
649lt1
1387S315
8999963
2482S242
16227923
Total S16 Totalthru2017Q4 804S68647
Sources
NY M IF lot Funddata calcutated diagonals based on uhibil6 lndcated UhimateSeverity and a discount factorot 25 Note 3tdQtf 2017 diagonal data ad)Jsted fom prior anatysis to account tot no payments made in Sepufflber
New York Medkal lndemnfty Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund As of December 31 2017 Expected Fund Payme nts by Admitta nce Yea r
Exhibit 6
Cumulative Expected Expected Development B-F Indicated Selected Indicated Fiscal Admitt ed Benefit Benefit of Benefits of Current Benefit Ultimate Ult imate Year Live Births Participants Payments Payments Paid Payments Payments Payments Severity (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)
2011 239608 22 2373617 31120771 744 31923416 31180450 31408213 1427646 2012 238237 86 33625643 528354667 660 509259533 527093844 521569348 6064760 2013 235956 84 13395388 261671507 572 234344047 260109436 260109436 3096541 2014 237491 91 14044564 339057181 465 301787630 337322734 337322734 3706843
2015 236335 85 8571585 248193481 353 242907000 248006934 248006934 2917729 2016 235084 91 3698704 226917166 228 162113835 225438647 226177907 2485472 2017 233832 57 387788 178355476 096 40531349 177036830 177696153 3117476
Tota l 1656542 516 76097288 1813670249 1522866810 1806188876 1802290725 3492811
Sources (2) Vita l Statist ics of New York State adjusted to MIF fiscal year (3) Provided by MI F includes participants admitted t hrough 123117 (4) Provided by MIF includes 80 load for prescription drugs
(5) (6) Pinnacle estimate of expected payments and payment distributions based on admittance year
(7) Col (4) I Col (6) (8) Col (4) + Col (5) x (1-Col (6))) (9) Judgmentally selected from (5) (7) and (8) bull these selections do not reflect the impact of recent legislation see Exh ibit 5 page 3 (10) Col (9) I Col (3)
New York Medical Indemnity Fund as of 12-31-17 ~ Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 1
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
3926 123699 123699 251 5 57453 35221 92673
23234 3082 329232 329232 276786 1631 278416
15367 1762 333646 333646
860 3965 137908 137908 280 280
124605 67257 2467783 2467783 2091 8946 11038
14194 14194
843 202 77059 7885 84944 1417 1417
15986 3858 28401 11723 40124 8505 106 142540 142540
13237 1853 15090
2970 1674 77489 10875 88363 825 335 87003 87003
4078 1529 65329 65329 10270 10434 1447101 1447101 15920 284712 284712
221780 25289 247068 719 8025 8744
19333 10565 29898 5276 109080 109080
6530 6530 2702 2719 138322 138322
9660 9660 73829 14383 1798595 3057 1801653
335 49944 49944
11174 11174 510 255 23055 23055
147 147 53611 9231 62842
57677 12833 390 182 390182 1691 453 39758 39758
7418 7418 57577 924 545865 65793 611659
752 5040 84086 84086 6783 2520 107621 10762 1
17618 56522 56522 2780 730 16760 16760
147 32211 32211 113154 113154
582 582 1092 209 64745 4130 68875
5650 5650 9361 165494 165494
130 76937 76937 165902 165902
12316 1884 301342 301342 18303 3626 345835 50146 395981
332 7963 7963 1551 64175 64175 5999 438159 22702 460860
375 190 26869 26869 11606 1609 565507 38552 604059
309 309 291 291
96687 6676 1221099 1221099
45300 23021 1328486 1328486 32497 68106 723626 723626
1050 6349 6349 99889 99889
9429 62796 62796 3280 21445 21445
322022 322022 40980 10315 450952 450952 35979 14161 1028967 1028967
52206 14118 841341 841341
45178 12340 1197470 1197470 411 22002 22002
19696 12335 274211 2742 11 3886 996902 996902
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
I
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 2
State Paid Benefits Paid Benefits Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
15543 15543 3350 80 138757 138757
2623 2623 400 28799 28799
48361 5985 1052738 1052738
9523 177755 177755 46825 7400 644897 644897 24828 1878 270381 270381 17435 1579 290631 290631
177945 17742 3547053 3547053 2343 373793 373793
50317 22400 1746074 1746074 190 5035 5035 73 23593 23593
470 10511 10511
5030 155489 155489 5235 5235 3782 3782
77382 77382 22151 10651 1235646 1235646
63 40854 40854 3719 9 38734 38734
597 35372 35372 1862 9 150405 150405
9497 9497
630 4777 4777 5320 350084 350084 2199 22752 22752
55965 19065 877274 877274 1835 1835
36946 6012 683281 683281 22682 2306 305368 305368
2615 379 62637 62637 37475 37475 15807 15807
35281 8525 569052 569052 250 8710 8710
370 2444 2444 6276 56616 56616
666 1440 25333 25333 3098 3098
106 1102 1102
10332 5 320841 320841
6736 6736 2633 2633
265 653 653
177 8868 8868 14453 6724 119253 119253
6977 2952 191470 191470 21757 270 732652 732652
7135 7135 1504 1504
316 7838 7838 3414 16105 16105
1435 1435 27192 10627 509959 509959
2SDO 206401 206401
247 92369 92369 14829 3105 168017 168017
1240 4595 4595 4055 83598 83598
6584 6584 82 82
47786 47786 15979 67016 67016
2986 29164 29164 37 37
15980 15980
New York M edical Indemnity Fund as of 12middot31bull17 3222018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 3
State Paid Benefits Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Medicaid
Incurred to Date
86733 112 262877 262877 107 6609 6609
1510 1510 27330 84 505774 505774
2470 52 18669 18669
284 17868 17868 43676 299147 299147
71453 71453 2127253 2127253
10657 523392 523392 474 474
1114 370 20955 20955 9499 9499
481 18055 18055 162 162
13242 2860 382678 382678 250 1265 13669 13669
4161 4161 17199 17199
69847 2404 554540 554540 7854 7854 1104 1104
400 694 35127 35127 31243 9887 787742 787742
54735 54735 188726 74865 898179 898179
4154 4154 1580 1580
11673 5648 369410 369410
22320 2579 144510 144510 10719 10719
9991 34469 34469
102215 14017 1268365 1268365 1272 24904 24904
86 54524 54524 6382 5504 157300 157300
33076 33076 10749 288155 288155
3597 3597
7333 6682 148190 148190
12253 12253 51746 17628 930690 930690
105 105
450 4680 4680
3349 3349 6292 99051 99051 1325 21700 21700
12011 1646 221427 221427 8193 8193
1402 186438 186438
130 31734 31734 62 82062 82062
30975 166 520775 520775 429 106 156062 156062
5581 6051 160532 160532 1721 363 104699 104699
1663 1663
51914 5483 452030 452030 16741 5251 386372 386372
8088 8088 23632 5446 284470 284470
13793 13793 66765 4666 917467 917467 11396 60918 107090 107090
9942 9942 1040 1040 6315 6315
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull4
State Paid Benbullflts Paid Benefits
I Affiliate Number
Current Age Gender
Effective Date Primary Diagnosis Injury
Years In MIF
Date of Death (If applicable)
Current Quarter
Belonging to Prlor Quarter
OJmulatlve To Date Mbulldlcaid
Incurred to Date
1272 37786 37786 5545 5545
213 23987 23987 5807 68459 68459
446 5499 5499
6748 6748 1461 16324 16324
57 40961 40961 24509 1082 138952 138952
200642 93564 2519857 2519857
7308 7308
2572 61943 61943 60866 9938 587310 587310 12272 13723 225372 225372
3517 85 302010 302010 1681 1045 41401 41401
1748 1748 3221 85408 85408
295 295 43 5247 5247
93859 1794 593200 593200 14882 2003 158861 158861
123776 3747 352390 352390 250 6660 6660
so 4350 4350 14971 150207 150207
10787 3019 162221 162221 1290 3374 32376 32376
10341 2047 285644 285644
2047 4832 100472 100472 6000 6000
181 9 15496 15496
325 2343 2343
1111 1111 2914 2914
915 67852 67852 87 4917 4917
641 10746 10746
43050 7120 414006 414006 437982 2790 717667 717667
7801 85975 85975 5854 2040 90732 90732 3838 113622 113622
13195 250901 250901 5821 4551 157945 157945
2282 2282
2044 62610 62610 27275 88760 88760
283 283 42302 4842 429 169 429169
5200 11600 34213 34213
1259 1259 632 8478 8478
19251 19251 1440 1440
46078 10993 864901 864901 2500 2500
40671 4016 129611 129611 2433 2433
219002 1868868 1868868
13484 737 340614 340614 1001 90 13701 13701
832 112 30216 30216
5942 172600 172600
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Pagbull 5
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
30479
Paid Benefits Belonging to Prlor Quarter
2108
OJmulatlve To Date
198306 204
Mbull dlcaid Incurred to Date
198306 204
122 122
3532 3532
2370 1wl 757
25185 6960
1231
757 25185 6960 1231
5512
245
29488
1388
459 4266
281481 11365 13669
58257 87098
3167
281481 11365 13669
58257 87098
3167
10027 51015
4194
14633
155983
1510
2466 2706
725 64
sos
99681
248193 76480
2134 1923
14227 64276
178 352552
99681
248193 76480
2134 1923
14227 64276
178 352552
4180
1000 828
40037
3371 11845
2937
1282
4728
118 4900
25116 32027
3386 68929
141704 11093 24025 72103
562 2105
181
25116
32027 3386
68929 141704
11093 24025 72103
562 2105
181
30 30
3534
927 47862 10518
3470 8799
11561 1536
477
875 753 586
367
191763 776
3103 278651
23838 45858
459020
93800 5402
191763 776
3103 278651
23838 45858
459020 93800
5402
935 5435
55891 9788
2277
10061 2534
300 13983
54606 1065
143721 267517
300 13983
54606 1065
14372 1 267517
12052 8466 8393 2100
54 1067 1703 1910
89354 76696 64564 22130
3190
89354 76696 64564 22130
3190
16894 3981
375
3697 2467
107
167965 64537 13738
167965 64537 13738
933 11950 614
11950
614
6864 6440 1523
21245 147
1523 21245
147
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partld pant Profit
Exhibit 7
Page 6
I State Paid Benefits Paid Benefits
Affiliate Current Effective Years In Date of Death Current Belonging to OJmulatlve Incurred Number Age Gender Date Primary Diagnosis Injury MIF (If applicable) Quarter Prlor Quarter To Date Medicaid to Date
1085 5521 5521 10633 579 16406 16406
1665 1665 4 4
1601 1319 12485 12485
1532 1532 23196 11262 1 112621
14 47 31507 31507 12102 31589 31589
62261 163499 163499 723 250 36698 36698
2855 2855 16003 2589 108056 108056
315 315
24312 13606 92684 92684 2784 81656 81656
16048 5470 197645 197645 2061 2330 21077 21077
4795 4795 2125 2125
6681 2210 33902 33902
30847 7136 236516 236516 510 3517 3517
5043 3683 16289 16289
20 20
3326 7049 7049 4801 21301 21301
2057 5882 5882 9918 326 44902 44902
1333 1333 275 275
6086 7122 7122 593 593
89 89 118 118
124433 104562 674390 674390
1693 1693 1693 879 1211 1211 390 26631 26631
87 388 388
69086 5141 291808 291808 190 3474 3474
33876 7780 148495 148495 11100 1926 78195 78195
500 1502 1502
11315 7207 57711 57711
1567 3236 3236 21175 375 23410 23410
5332 475 24227 24227
2000 2000 24481 24481
2615 1004 11436 11436 4011 1004 11919 11919
11071 24998 24998 29682 4090 113465 113465
4125 7585 7585 636 636
310183 225 318618 318618 5725 9667 9667
15955 17356 17356 21889 12723 91184 91184
New York M edical Indemnity Fund as of 12middot31bull17 322 2018 - Pinnacle Actuarial Resources Inc
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018
New York Department of Financial Services Quarterly Analysis of New York Medical Indemnity Fund A5 of Dtamber 31 2017 Partldpant Profit
Exhibit 7
Pagbull7
I Affiliate Number
Current Age Gender
State Effective
Date Primary Diagnosis Injury Years In
MIF Date of Death (If applicable)
Paid Benbullflts Current Quarter
5572
221 20384
3371
3973
91975 250 567
719
23606 1488
10290
24217
265 3570
600 4874
1186
16620
664 5085 3664
165 815
1031
825
Paid Benefits Belonging to Prlor Quarter
1891
6389
2469
475
9087
1101
1073
750
OJmulatlve To Date
1080 19105
2824 411
83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570 1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
Mbull dlcaid Incurred to Date
1080 19105 2824
411 83362
2348
8938
4125
151991 250
3416
18088
96083
1488 13554
28296
265 3570
1053 5947
1186
150
16620
664 5835 3664
165 815
1031
825
ITotal
598006
6390551 1144554
5037116 598006
25232
75802236 322301
5037116 598006
25232
76124537
New York M edical Indemnity Fund as of 12middot31bull17 - Pinnacle Actuarial Resources Inc 3222018