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The combined estimated changes for individual premium-related components (employment, wages and rate/loss costs) suggest an overall drop of 7% in jurisdictions NCCI has insights in. (Credit: Rawpixel.com/Shutterstock.com) The combined estimated changes for individual premium-related components (employment, wages and rate/loss costs) suggest an overall drop of 7% in jurisdictions NCCI has insights from.  (Credit: Rawpixel.com/Shutterstock.com)

Private carriers nationwide saw a decrease of 8.1% in direct written workers’ comp premiums during 2020 when compared with the year prior, according to National Council on Compensation Insurance (NCCI) estimates, which also revealed a rise in opioid prescriptions during Q2 2020.

Noting the last time net written premiums were at this level was in 2014, Vicky Mayen, FCAS, MAAA, director & actuary at NCCI, said in a webinar: “Workers compensation calendar year losses declined at about the same rate as premiums. That means our preliminary estimate for the private carrier workers’ comp combined ratio countrywide for calendar year 2020 is 86, just one point higher than 2019.”

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Steve Hallo

Steve Hallo is an assistant editor with PC360 Group. Prior to his current position, Steve spent nearly a decade covering retail transformation, consumer trends, manufacturing issues and supply chain challenges impacting global CPG markets. He can be reached at [email protected], and on LinkedIn and Twitter.  

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