NCCI Reveals 2020 Workers Compensation Metrics
Premium Declines 10%; Combined Ratio at 87 With $14B Reserve Redundancy
News provided by
Share this article
Share this article
BOCA RATON, Fla., May 11, 2021 /PRNewswire/ -- The National Council on Compensation Insurance (NCCI) today revealed in-depth data on the performance of the US workers compensation system in 2020. Because of job losses and shrinking payrolls during the pandemic recession, net written premium dropped 10% to $42 billion in 2020. However, private insurers posted a profitable calendar year combined ratio of 87, the fourth straight year with a combined ratio below 90 for workers compensation insurance.
2020 Workers Compensation Highlights - #ncciAIS
NCCI - Looking Ahead in 2021 - #ncciAIS