Net written premium in the U.S. workers’ compensation insurance market grew by just 1% from 2022 to 2023, a far smaller percentage than most other property/casualty lines. However, the workers’ compensation line remains the most profitable segment, with a combined …
Despite a “significant slowdown” in job growth in 2023, a new National Council on Compensation Insurance briefing shared that “wage growth will likely continue to drive workers compensation payroll growth throughout 2024.” “Employment gains slowed in 2023 from 2022; however …
The National Council on Compensation Insurance (NCCI) said President and Chief Executive Officer Bill Donnell plans to retire in February 2025 after about 10 years with the organization. “It’s been such a privilege to lead this organization and this amazing …
A new survey finds ratings data, changes in the workplace and workforce, medical inflation and economic uncertainty are top of mind concerns for workers’ compensation insurance executives. The National Council on Compensation Insurance (NCCI) released the results of its annual …
Workers’ compensation rates have shrunk to such a low level in Florida, at least for some classifications, that they are causing problems and could be masking issues that will lead to higher premiums in coming years, Florida roofing contractors said …
Connecticut workers’ compensation insurers are recommending an overall 9.8% reduction in loss costs in the voluntary market and a 10.5% overall reduction in the assigned risk market. The rate filing submitted to the Connecticut Insurance Department by the insurers’ National …
The National Council on Compensation Insurance has proposed an average 15.1% decrease in rates for Florida, starting Jan. 1, the latest and one of the largest reduction recommendations in more than a decade of rate filings. The filing, which will …
The National Council on Compensation Insurance has elected Brandon Fick as its new board chairman, replacing Lisa Corless. Fick is chief underwriting officer for Liberty Mutual Global Risk Solutions, North America. He was elected at the NCCI annual meeting in …
While the property/casualty insurance industry overall may have seen a slight loss in profitability in 2022, workers’ compensation continues to be the most profitable line, with a “very healthy” nationwide reserve redundancy level of $17 billion. “The system is healthy …
Editor’s note: This article first ran in Insurance Journal’s sister publication, Carrier Management, earlier this month. It was written by CM Editor Susanne Sclafane. The National Council on Compensation Insurance, which turns 100 years old this year, is headquartered in …
