Today’s issue of WorkCompRecap features the TDI-DWC’s recent release of its biennial report on the state’s workers’ comp system, which noted that overall the last decade has been profitable for insurance companies writing workers’ comp insurance in Texas, and injured workers are returning to work faster.
Key findings from the report included that since 2003, workers’ comp rates have dropped nearly 77%, while companies writing insurance in the state averaged a 10% return on net worth. In 2022, the percentage of employers that were nonsubscribers (25%) was the lowest in six years, and the percentage of employees working for non-subscribing employers (17%) was the lowest in 12 years. The report also notes that there have been steady improvements in return-to-work rates in the last decade, with 83% of employees injured in 2020 returning to work within six months, and 92% went back to work within the first year after injury.