NCCI Sees 3 Factors Behind Low Combined Ratios

November 11, 2024

 

 

NCCI Reveals Highlights From Latest Carrier Executive Survey

  • NCCI said Nov. 7 that the four top concerns in its latest Carrier Executive Survey have shown up consistently in carrier feedback for several years, underscoring their importance to the industry.
  • Those concerns are: the financial health of the system, medical inflation, economic uncertainty, and the changing workforce and workplace.
  • It attributed the low WC combined ratios seen in recent years to three factors: Continued long-term decline in frequency; Moderate severity; and, Growing wages.
  • “These favorable results for carriers drive loss costs down. When wage growth outpaces frequency and severity changes, loss costs will continue to decrease,” NCCI said.
    READ MORE

 

Massachusetts WC Advisory Council Set November Meeting

  • The Massachusetts Workers’ Compensation Advisory Council has set its November meeting for this Wednesday, Nov. 13, from 9-10 a.m.
  • The meeting will be held virtually, on WebEx.
  • WCAC Executive Director Maureen O’Connell will present the FY 2024 Annual Report.
  • The state’s Department of Industrial Accidents will give an update on court and administrative cases.
    READ MORE