Workers' comp rates appear to be going down, but costs are going up. (Photo: Shutterstock)
In workers' compensation, the trends over the past few years have been pointing to declining rates in most states. At the National Council on Compensation Insurance's (NCCI) 2019 Annual Issues Symposium (NCCI-AIS), NCCI indicated the 2018 industry private carrier calendar year combined ratio was a record low of 83%. I heard comments from many carriers attending the NCCI-AIS that they were surprised by this figure as it did not reflect what they were seeing on their book of business.
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