NCCI Reveals 2020 Workers Compensation Metrics
Premium Declines 10%; Combined Ratio at 87 With $14B Reserve Redundancy
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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.
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