Boca Raton, FL – At its Annual Insights Symposium (AIS) in May 2022, NCCI presented the State of the Line Report—a comprehensive account of financial results for the workers compensation (WC) line of business.
The results presented in that report reflected the most current data available at the time, including NCCI’s preliminary estimates for Calendar Year 2021.
In a recently released new report, NCCI provides updated results for 2021, as well as preliminary information for 2022.
The final countrywide analysis shows:
- WC Calendar Year 2021 private carrier net written premium (NWP) increased from 2020 by 0.5% to $38.2 billion
- The WC Calendar Year 2021 private carrier combined ratio was 87.2%, and the operating gain was 23.7%
While still early and subject to revision, preliminary analysis through the second quarter of 2022 shows that:
- WC Calendar Year 2022 private carrier direct written premium (DWP) increased nearly 10% through the first two quarters of 2022, compared with DWP through the first two quarters of 2021
- The WC Calendar Year 2022 private carrier direct loss ratio through the first two quarters of 2022 is lower than that observed through the first two quarters of 2021
Read the free report: NCCI: 2022 Workers Compensation Financial Results Update