Business Services Industry
COMP LOSSES HITTING INSURERS: BUYER'S MARKET EXPECTED TO END AS COMBINED RATIOS WORSEN.
Business Insurance, April, 1999 by FLETCHER, MEG
ORLANDO, Fla. -- Intense competition among workers compensation insurers is allowing employers to enjoy low-priced workers compensation coverage -- at least for now. However, that buyers' market is expected to end sooner rather than later, because preliminary 1998 data indicates that insurers' workers comp losses are worsening, according to a new statistical report from the National Council on Compensation Insurance.
The numbers "are ugly and they are getting uglier," Bill Schrempf, the NCCI's president and chief executive officer, said at the organization's recent annual issues symposium at the Hyatt Regency Grand Cypress Resort in Orlando, Fla. The most eye-catching news at the symposium was that two key combined ratios are expected to increase five...
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