Today’s issue of WorkCompRecap features the recent release of Marsh’s 2014 Insurance Market report, which offers detailed information on commercial insurance market trends and risk issues for all major classes of business and more than 24 industry and specialty lines.
For workers’ comp specifically, Marsh noted that the line remains a challenging area for both insurers and insureds as claims costs rose in 2013 and will likely do so in 2014 as well. Additionally, Marsh noted that while carriers may continue to push for rate increases this year, differentiating insureds’ risk profiles in the market and ongoing competitive pressure should help moderate those pushes. Be sure to check out the workers’ comp specific breakout on page 16!
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