Today’s issue of WorkCompRecap features a couple pieces of market analysis, starting with Conning’s recent release of a new study that found that the Workers’ Comp industry is at an “inflection point” in its performance.
Conning’s new paper, Record Profitability in Workers’ Compensation Insurance: Strategies for Continued Success analyzes performance data over ten years for the national multilines, regionals, state funds, and specialist Workers’ Compensation Insurers separately to identify the long term outperformers. Conning noted that insurers have seen major improvements from a long-term focus on safety and loss prevention programs, medical loss containment and return-to work initiatives, but pressures in investment income, the rate environment and medical costs are expected to drive significant deterioration in combined ratio performance over the next few years.
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