Unique WC Woes Hit Longshore Buyers

While the workers’ compensation market is hard all over, buyers of longshore coverage might be facing some of the biggest challenges placing renewals due to some unique problems.

In 1927, the federal government enacted the original Longshore & Harbor Workers’ Compensation Act. Designed to cover longshoremen, ship-repairers and related industries, it remained untouched for over four decades, and then was amended only twice (the most recent in 1984).

It is remarkable to think that even though unchanged in 18 years, its effect has changed drastically over the last 3-to-4 years. A number of factors have conspired to make this so, many of which have nothing to do with the general hard insurance market, such as:

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