Search
 
Market Insights

Workers' comp premiums up 11% in 2022, reaching pre-pandemic levels

The NCCI reported the sector had a combined ratio of 84 in 2022, marking the sixth consecutive year with a combined ratio below 90.

“Despite the unsettled environment over the past few years, the reality is that workers’ compensation has had more tailwinds than headwinds influencing results, NCCI President and CEO Bill Donnell said during the organization’s Annual Insights Symposium. “Experience tells us that it won’t last forever, and we must be ready.” (Credit: Rawpixel.com/Shutterstock.com) “Despite the unsettled environment over the past few years, the reality is that workers’ compensation has had more tailwinds than headwinds influencing results, NCCI President and CEO Bill Donnell said during the organization’s Annual Insights Symposium. “Experience tells us that it won’t last forever, and we must be ready.” (Credit: Rawpixel.com/Shutterstock.com)

During 2022, workers’ comp premiums increased 11%, reaching $47.5 billion and nearing levels similar to those collected in 2019, according to the National Council on Compensation Insurance (NCCI).

“Despite the unsettled environment over the past few years, the reality is that workers’ compensation has had more tailwinds than headwinds influencing results, NCCI President and CEO Bill Donnell said during the organization’s Annual Insights Symposium. “Experience tells us that it won’t last forever, and we must be ready.”

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Steve Hallo

Steve Hallo

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

More from this author

 

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.