NCCI has released its workers’ comp financial results update with positive projections for the remainder of 2014. NCCI evaluated the data reported as of mid-year 2014 to provide full-year estimates for written premium volume and the combined ratio. While still early and subject to revision, NCCI’s analysis suggests continued improvement in the combined ratio as well as another increase in premium volume. The report notes that: net written premium for workers’ compensation is projected to continue its upward trend with 2014 marking the fourth consecutive year of premium increases. NCCI’s current estimate for 2014 net written premium is $39.3 billion. This represents growth of 7% over the 2013 premium level and a more significant increase than the 4.5% growth observed in 2013. Additionally, NCCI’s combined ratio estimate of 96, if realized, would be the industry’s first underwriting gain since 2006.
Access the full update from NCCI here.