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U.S. workers' comp strong in 2017, long-term projections unclear: Fitch

Fitch believes that the workers' compensation industry may still generate underwriting profits this year.

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While the current workers' comp market touts a strong performance, Fitch mentions that a steady decline in premium rates from increased competition will ultimately lead to weaker underwriting results. The current workers’ comp market touts a strong performance, but Fitch mentions that a steady decline in premium rates from increased competition will ultimately lead to weaker underwriting results. (Photo: Shutterstock)

The U.S. workers’ compensation insurance market reported strong underwriting performance for the third consecutive year in 2017, with an industry statutory combined ratio of approximately 92%, according to Fitch Ratings.

Fitch believes that while the industry may still generate underwriting profits this year, workers’ compensation results will move toward breakeven in 2019, with low visibility of longer-term projected results due to historical performance volatility.

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Denny Jacob

Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].

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