NEW YORK – Marsh has recently released a comprehensive insurance market report – Navigating the Risk and Insurance Landscape: U.S. Insurance Market Report 2012. The report covers a wide range of commercial lines, with Workers’ Compensation included.
According to Marsh, the Workers’ Compensation market experienced another difficult year in 2011, and although final underwriting results are not yet published, they expect that the overall industry will continue to build upon its six-year run of deteriorating results.
Major Workers’ Compensation findings in the Marsh report include:
- Workers’ compensation rates tended to be flat to up 5 percent in the fourth quarter of 2011.
- Continued firming of the market is expected in 2012, driven by higher underlying claims and medical cost inflation.
- Rates could be affected as a growing number of states pursue legislative reforms to control medical care costs.
The full report is available from Marsh here: Marsh Insurance Market Report 2012 (Scroll Down to “Workers’ Compensation”)
Or get the full PDF version of the report here.