WC Combined Ratio Among P&C Lines Best

Workers compensation insurance ranked second in combined ratio among property/casualty lines in a recent report by S&P Global Market Intelligence.
That 2024 WC combined ratio of 88.8, while up from 88.1 in 2023, and from the decade low of 86.4 in 2018, remains well below the decade high of 95.6 recorded in 2015, according to SPGMI.
The industry’s aggregated property and casualty lines posted a net combined ratio of 96.5%, marking the best annual performance since 2013, when it was 96.2%.
This figure represents a significant improvement from the previous year’s net combined ratio of 101.6%.
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The Workers Compensation Research Institute is offering a free, 30-minute webinar covering its recent research on the links between high temperatures and heat-related illnesses in the workplace.
That research showed that excessive heat increases the frequency of other injuries on the job.
Among the questions to be explored are: What is the effect of excessive heat on those illnesses versus broader heat-related accidents; and, How job tenure influences the occurrences of heat-related illnesses in the workplace.
The 2 p.m. ET, June 26 program is limited to 500 attendees.
REGISTER HERE

Workers at Ontario’s Workplace Safety and Insurance Board extended their strike into its third week as settlement talks broke down.
That means that appeals of its decisions continue to be on hold while the strike continues.
However, existing claimants are continuing to receive any income support and healthcare they need, according to an WSIB spokesperson.
Any new claims are being registered the same day and will receive the healthcare they need and income support if they are off work.
Management said its latest position includes above-inflation wage increases, improved benefits and a commitment to continue to improve workload.
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