Boca Raton, FL – NCCI recently announced the release of its Residual Market Management Summary 2016, noting that it is the best source for obtaining facts and figures about the workers compensation residual market plans and reinsurance pools that NCCI services.
NCCI declared 2016 another successful year based on all the key metrics used to evaluate the workers compensation residual markets they manage. It marks the fourth year in a row where the residual market premium, market share, and operating results have remained stable—a notable achievement given the potential for volatility in the residual markets.
- Projected ultimate residual market written premium for Policy Year 2016 is $1.1 billion
- The residual market share of the overall workers compensation market is down to 7.7% in 2016 from 8.1% in 2015
- The $71 million estimated 2016 operating deficit is higher than the 2015 estimated deficit but is still only –0.5% of voluntary workers compensation premium
- Customer satisfaction is high
Click here for the full report: NCCI: Residual Market Management Summary 2016 (PDF)