Call: 610-323-2201

 

The workers’ compensation market has suffered in recent years, just like the economy. The 2011 results were no better than 2010. But, the workers’ comp market results were not worse either.

The combined ratio held steady at 115 for the workers’ comp line of business, according to the NCCI Holding Inc.’s “State of the Line” report published in May.  That’s the same as in 2010. While stable, the reported combined ratio stands as the highest combined ratio for all major commercial lines for the third straight year.

A number of factors contribute to the line’s challenging conditions, the experts say. The weak economy, high unemployment rates, rising claims frequency and unrelenting medical inflation all contribute to the market’s health.

Another reason for workers’ comp’s under-performance is rate inadequacy.

Talk to us at Evans, Hauseman & Richard to find out more about worker’s compensation and what your needs are.

Comments are closed.