ORLANDO, FLA.–Job injury frequency has declined more than 30percent over the past decade and economic forces will continue thattrend, an economist with the National Council on CompensationInsurance told an industry conference yesterday.
That forecast came from Harry Shuford, NCCI chief economist, ina talk at the group's annual seminar here outlining what hedescribed as “the mystery of the disappearing frequency–soimportant, so misunderstood.”
Mr. Shuford noted that even as frequency has gone down, theaverage cost per claim has doubled. Over the past quarter century,he said, frequency has declined about 1 percent a year with somecyclical swings.
Continue Reading for Free
Register and gain access to:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
