Workers' Comp Improving But Not Yet Profitable
NU Online News Service, July 16, 12:18 p.m. EDT?Firmer pricing is driving improved insurer results in the workers' compensation line, but profits remain elusive due to residual effects from the previous soft market, according to a report by Fitch Ratings in Chicago.
"Current results indicate that pricing, though improved, is still insufficient to produce adequate returns on capital," noted James Auden, senior director of Fitch Ratings, in a statement summarizing the report. Rates will have to rise even further in order to keep pace with loss costs, the report points out.
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