Just like that we are in the last quarter of 2014, which means there is valuable data that has been compiled to tell us how the workers’ comp market is performing. As a result, the National Council of Compensation Insurance (NCCI) is fairly optimistic about the growth and performance of the workers’ comp market in America.
Even with the uncertainties that are around the corner such as: rising health care costs, terrorism risk insurance renewal (TRIA), ACA, and pending state judicial decisions, the NCCI still predicts a profit in the comp market especially if industry cost remain contained.
A few key performance indicators that demonstrate the positivity and growth of the workers’ comp market are: lower combined ratios for the workers’ comp calendar, loss-time frequency declines, and premium growth for the third consecutive year.
To read the full article and to view other positive indicators for the workers’ comp market click the link below.
Hopeful Outlook for Workers’ Comp.
