A.M. Best announced yesterday the publication of its Best’s Special Report, “U.S. Workers’ Compensation Results Sustain Recent Improvement.” Major findings include their observation that: “The workers’ compensation industry’s results continued a favorable trend in 2013, marking the third consecutive year of improvement in the industry’s underwriting performance. The industry’s combined ratio declined to 98.6, an 11.7-point decrease from 2012 and the lowest calendar year combined ratio since 2006.” The authors also noted: “Although uncertainty remains over the impact of health care reform, there have been positive indications during the past two years that further improvement in results may lie ahead over the near term. Written premiums increased for the third straight year, improvement in the combined ratio has continued and the reduction in claims frequency has largely offset the increase in claims severity.”
Read the full release from A.M. Best here.