Hartford Says WC Pricing for 2026 Under Review
- The Hartford said workers’ compensation pricing in 2026 remains under review; management didn’t provide final figures and noted updates will come later in the year.
- Appearing at Barclays’s Annual Global Financial Services conference, the executives, including Chris Swift, CEO, said medical severity in workers’ compensation claims is under 5%, below the anticipated trend, indicating milder cost inflation than expected.
- Hartford has seen consistent reserve releases in workers’ compensation over recent years—meaning they’ve been taking down prior reserves steadily.
- The insurer said workers’ compensation loss-cost trends are tracking as expected, with feedback loops between claims experience and pricing adjustments.
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Oregon Cutting Average Pure Premium Rate by More Than 3%
- Oregon will cut its workers’ comp pure premium rate by an average 3.3% for 2026, marking the 13th year of average decreases, according to the state’s Department of Consumer and Business Services (DCBS).
- Employers, on average, would pay 87 cents per $100 of payroll for workers’ compensation costs in 2026, down from 91 cents in 2025, under a proposal by DCBS.
- That loaded pure premium figure covers workers’ compensation claims costs, assessments, and insurer profit and expenses.
- The decrease in the pure premium will be effective Jan. 1, 2026, but employers will see the changes when they renew their policies in 2026.
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Broadspire Exec Talks Emerging Technology in Workers’ Comp
- Emerging technology, specifically data analytics and applied artificial intelligence (AI), is critical for achieving workers’ compensation program objectives, Rob Evans, director of Claim Process Technology at Broadspire, said on the latest episode of the DigIn podcast.
- Evans said he expects AI’s biggest benefits for workers’ compensation programs will be in claims and experience; regulatory compliance; and, the efficiency and efficacy of the claims process.
- He noted that data analytics helps in understanding past and current performance, while AI identifies areas for improvement. This combination is used to achieve optimal claim outcomes.
- For workers’ comp, the tech focus has shifted from “big data” to better data visualization, benchmarking against industry standards, and more frequent reporting.
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