Today’s issue of WorkCompRecap features NCCI’s release of a new Workers’ Compensation Financial Update, which both provides an update to its State of the Line Report data from May, which provided preliminary estimates for Calendar Year 2021; and new preliminary information for 2022.
Key findings from the final countrywide analysis included that Calendar Year 2021 private carrier net written premium (NWP) increased from 2020 by 0.5% to $38.2 billion. The CY2021 private carrier combined ratio was 87.2%, and the operating gain was 23.7%. NCCI’s preliminary analysis, while still early and subject to revision, found that through Q2 2022, CY2022 private carrier direct written premium (DWP) increased nearly 10% through the first half of 2022, compared to DWP through the first half of 2021. The CY2022 private carrier direct loss ratio through the first half of 2022 is lower than that observed through the first half of 2021.