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C, A claim or occurrence which is the result of incidents involving paralysis, or brain <br /> damage, dismemberment or death; <br /> <br />An occurrence which results in two or more claims from the same incident if <br />reserved in total at 50% of the Participant's retained limit or $500,000 which- <br />ever is less. <br /> <br />A claims administration audit utilizing the Authoritie's Liability Claims Quality Control <br />Guidelines shall be performed, at a minimum, of once every three years, or more often <br />at the sole discretion of the Authority, particularly if: <br /> <br />A. There is an unusual fluctuation or increase in the Participant's claims experience <br /> or number of claims; <br /> <br />There is a change of Liability claims administration firms; or in-house claims/litiga- <br />tion management; <br /> <br />The Participant is a new Participant, <br /> <br />In most cases an audit will be performed on an "as needed" basis, but at least within <br />twelve months of the above-mentioned event(s). <br /> <br />The claims audit shall be performed by a firm selected by the Authority. Recommenda- <br />tions made in the claims audit shall be addressed by the Participant and a written re- <br />sponse outlining a program for corrective action shall be furnished to the Authority <br />within sixty days of receipt of the audit. <br /> <br />The Participant shall obtain an actuarial study performed by a Fellow of the Casualty <br />Actuarial Society (FCAS) once every three years, or more often if indicated. Based <br />upon the Actuarial recommendations, the Participant shall maintain reserves and make <br />funding contributions equal to or exceeding the 'Marginally Acceptable" ranges of the <br />actuarial report. <br /> <br />10. The Participant shall furnish an annual audited financial statement to the Authority. <br /> <br />NOTICES <br /> <br />The Authority shall furnish the Participant written notification of the Participant's <br />failure to meet any of the above-mentioned guidelines. <br /> <br />The Participant shall furnish a written response outlining a program for corrective ac- <br />tion. within thirty days of receipt of the Authoritie's notification, Extensions re. ay be <br />granted under extenuating circumstances, at the discretion of the Authority. <br /> <br />After approval by the Authority of the Participant's corrective program, the Participant <br />shall implement the approved program within sixty days. The Participant may request <br />an additional sixty days from the Authority. <br /> <br />BICEP 3/9/t38 (;-2 <br /> <br /> <br />