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Combined Ratios and Reserve Deficiency Decreased in 2004
By Sandy Kohl – Senior VP of Underwriting
At NCCI’s 2005 Annual Issues Symposium, speakers sited improvements in workers’ comp market conditions but warned progress is still needed.
 2004 was a year of solid improvement for workers’ compensation, according to industry experts at this year’s NCCI Annual Issues Symposium. The calendar year combined ratio dropped from 109% to 105%—its best performance since 1997. The accident year combined loss ratio continued to decline at 94%—45 points below its 2000 level. The loss reserve deficiency is estimated to have declined by $3 billion to $12 billion, and after allowing for lifetime pension cases, the deficiency is $7 billion. And claim frequency is still on the decline that began in the early 1990s. [ more ]
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Summertime Safety
By Scott Sloan, ARM, CSP, CSHM
Summertime brings with it a lot of fun and exciting outdoor activities like outdoor sports, water activities, outdoor parties/BBQs, and vacations. Since we only do some of these during the summertime, it is easy to forget the associated hazards. This summer, put some extra thought into the dangers that might be involved in your plans, so you can better protect yourself and your family. [ more ]
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Maximize Your Submissions in 5 Steps
Ever wonder what it would take to keep your submission from being lost in an endless sea of applications on your favorite underwriter’s desk? Service Lloyds recently conducted an underwriter survey to determine what typically prevents or delays a submission and quote’s return voyage back home. [ more ]
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