ORLANDO, FLA.--Industry experts here have advised risk managers that, aided by new state laws, workers' compensation insurers are strong despite a recent decline in prices.

Overall, the comp news is good for risk managers, but they should be cautious because the market is cyclical and conditions will not last forever, was the advice from a panel of industry experts addressing the state of the market here at the Workers' Compensation Educational Conference, as part of the National Trends Program put together for the meeting by National Underwriter.

Harry Shuford, practice leader and chief economist with NCCI Holdings Inc., said calendar-year results show an overall drop in comp premiums primarily because of the decline in the California State Fund.

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