California Reforms Bolster WC Results
Absence of major reserve charges explains much of the loss ratioimprovement
With workers' compensation insurers toiling less on balancesheet repairs last year, individual state reforms–most notably inCalifornia–worked their magic on 2004 loss and combined ratios,bringing both to the lowest levels recorded in years. The industryloss ratio for workers' compensation improved five points toroughly 67 on both a direct and net-of-reinsurance basis.
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