Residual and Voluntary Market Net Premium Dropping, Reports Show

After a sharp rise in the residual market nationwide after the great recession, the market is slowly stabilizing. Meanwhile, the net written premium for the market as a whole is expected to decrease almost 4% for 2019 as claims frequency continues to fall, according to new reports from the National Council on Compensation Insurance. The NCCI reported Tuesday that net written premium for private insurers will drop from $43.3 billion in 2018 to $41.6 billion for 2019, a decrease of 3.9%. Until this year, net premiums had shown a steady increase over the last decade as the economy rebounde...