Business Services Industry
'Excellent' comp results; Workers comp insurers post best year in decades.(News)
Business Insurance, May, 2007 by Ceniceros, Roberto
Byline: ROBERTO CENICEROS BOCA RATON, Fla.-U.S. workers compensation insurers posted "excellent'' financial results for 2006, with all major measures improving significantly, according to an NCCI Holdings Inc. analysis released last week. The insurers' 2006 calendar year combined ratio of 96.5% represents their best underwriting results in 30 years and a 6.5 percentage point improvement over 2005, according to the National Council on Compensation Insurance Inc.'s annual State of the Line report.
On an accident-year basis, the industry saw its fourth straight year of underwriting profits, with NCCI estimating insurers' combined ratio at about 87% for 2006. Additionally, accident frequency continues to decline, the loss cost environment is generally...
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