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Workers’ Compensation results are a drag on the P&C insurance industry’s numbers, producing a combined ratio that is 7 points worse than the industry as a whole, according to Fitch Ratings.

In a new report, Fitch says Workers’ Comp came in with a statutory combined ratio of 117.2 for 2011, about 9 points worse than the commercial-lines aggregate for last year. During the five-year period from 2007-2011 the line generated a combined ratio of 108.5, about 7 points worse than commercial lines collectively.

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