X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

At the National Council on Compensation Insurance’s (NCCI) 2010 Annual Issues Symposium, NCCI CEO Steve Klingel reported that deteriorating underwriting results, combined with a record low interest rate environment, uncertainty about the economic recovery, and the long term impact of the new federal health-care law put the workers’ compensation insurance industry in a precarious position. All of these concerns rightly shine a spotlight on the workers’ compensation residual markets. Fortunately, these markets have operated well in recent years.

One of NCCI’s core functions is to act as the administrator of the state workers’ compensation residual market insurance plans and the reinsurance pools. The plans are the basic instrument through which eligible employers who would otherwise be unable to obtain necessary insurance coverage can secure workers’ compensation insurance. The plans include the state-approved rules that govern the assignment, administration, eligibility and policy issuance requirements. NCCI administers plans on behalf of insurance regulatory authorities in 21 jurisdictions.

Dig Deeper

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.