Today’s issue of WorkCompRecap features NCCI’s release of the results of its latest Workers’ Compensation Carrier Executive Survey, which questioned 101 executives on their top concerns and what key issues they are looking ahead to for 2024.
The survey surfaced four key concerns, along with new, emerging topics. Executives are watching the financial health of the system and rate adequacy, and worry about whether current data and analysis are sufficient in the long-term. Medical Inflation was also a top concern, with carriers keeping an eye on frequency, severity, and large claims. Economically, employment is strong and economic growth is solid, and carriers wonder if the labor market will start to stabilize. Carriers are also reevaluating workplace risks as the workforce changes. Emerging issues included climate change, expanding legalization of marijuana, artificial intelligence, and the rise of new safety technology.
WorkCompWire will return on Tuesday, in observance of Martin Luther King Jr. Day.