Business Services Industry
Updates.(Brief Article)
Business Insurance, May, 2000
NCCI forecasts worsening workers comp combined ratios ORLANDO, Fla. -- Workers compensation insurers are facing "a pattern of accelerating deterioration" as two key combined ratios are both expected to increase several percentage points this year, according to new estimates from the National Council on Compensation Insurance.
The accident-year ratio, which considers losses only from accidents in a given year, is predicted to climb five percentage points to a record 130% this year, up from 125% last year. This is occurring despite stable loss costs, according to the NCCI. In addition, the calendar-year ratio, which includes claims payments and reserve changes made during a year for accidents occurring in that year or earlier, is predicted to climb seven...
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