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Minnesota workers' comp association distributing $600M surplus

Minnesota’s Workers’ Compensation Reinsurance Association previously distributed surplus in 1992, 1993, 1996 and 2000.

The surplus was built on investment results, according to WCRA, which reported its recent investments have “exceeded the expected long-term investment returns factored into our rates.” Favorable inflation rates, a drop in claims frequency and legislative changes also played a role in building the surplus. (Credit: photo.ua/Shutterstock.com) The surplus was built on investment results, according to WCRA, which reported its recent investments have “exceeded the expected long-term investment returns factored into our rates.” Favorable inflation rates, a drop in claims frequency and legislative changes also played a role in building the surplus. (Credit: photo.ua/Shutterstock.com)

Minnesota’s Workers’ Compensation Reinsurance Association (WCRA) is preparing to distribute a $600 million surplus to licensed insurers and self-insurers of workers’ comp (as of Dec. 2, 2021). Additionally, any employer that had a workers’ comp policy in 2020 will also be eligible for a portion of the surplus, the association reported.

WCRA reported that of the surplus, $383 million will go to insurers, $182 million will be given to self-insurers and $35 million will be divvied up among some 1000,000 policyholders. As required by state statute, every licensed insurer and self-insurer of workers’ comp in the state is a member of WCRA.

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Steve Hallo

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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