Good Job, Workers!

According to a report recently released by A.M. Best Co., Workers’ Compensation results improved in 2012. Premiums grew for the second straight year, the combined ratio improved and claims frequency declined at a faster rate than severity increased. The combined ratio came in at 110.3 which is a 7 point decrease from 2011 and the first decline since 2006.

• According to a report recently released by A.M. Best Co., Workers’ Compensation results improved in 2012. Premiums grew for the second straight year, the combined ratio improved and claims frequency declined at a faster rate than severity increased. The combined ratio came in at 110.3 which is a 7 point decrease from 2011 and the first decline since 2006.
• The signs are positive despite impending challenges like low investment yields and ongoing uncertainty about the impact of healthcare reform.Advancements in technology have enabled companies to react more quickly to negative trends. However, without the higher investment yields that the industry has earned in the past, overall earnings continue to decline even with the report that operating costs also declined.
• For a quick analysis of how you can benefit by working with the professionals at RoamNet, give us a call. We have the markets and the knowledge to keep you on top of the trends meeting your clients’ specific needs.

(information and numbers collected from Insurance Journal and A.M. Best Co. Jan. 2014).