The U.S. workers’ compensation sector reported a record high $58.5 billion in direct premiums written in 2016 despite economic, regulatory and legal issues that threaten to reshape the market, according to a new A.M. Best special report. Louisiana Comp Blog reached out to local voices to get their take on the report, including why, in this profitable environment, the need for reform remains a constant refrain.
Demotech Inc. is not a household name, it isn’t A.M. Best or Standard & Poor’s – it also doesn’t want to be. Ratings and actuarial studies often take the brunt of insurance industry clichés; Louisiana Comp Blog spoke with Douglas Powell, Senior Financial Analyst at Demotech Inc. to clear up some of the misconceptions and talk about what Demotech has to offer as a smaller independent rating service. In Powell’s words: “Our focus is on the business model of the entity, not its size.” Read on for the rest of Powell’s take on the issue.