Getting Ahead Of The Workers CompensationCycle
Year in and year out, states workers compensation systems arebuffeted by a seemingly endless series of changes in a variety offactors. Among the most basic of these are changes in legislatedbenefits, loss cost inflation, accident frequency and claimsseverity. Add to this mix changes in approved rates, premiumcredits and policy dividends, and you have a scenario that shouldkeep actuarial experts in the workers comp field employed for sometime.
As if this werent enough, mix in the major changes in carrierreserving postures that occur from time to time and you can
understand why insurers are often the lastto know whether theyre making money–or more often losing it handover fist–on a given states comp writings. Doesnt sound as if manyworkers comp market participants are enjoying the experience, doesit?
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