Premium Volume Increases as Combined Ratio Declines

Net premium volume for the Indiana workers' compensation market climbed to $830 million in 2013, the highest level in a decade, according to a State Advisory Forum by the National Council on Compensation Insurance. The Indiana Compensation Rating Bureau posted the NCCI analysis on its website this week, augmenting loss-cost data that led the bureau to recommend a 3.7% average rate reduction to take effect Jan. 1. According to NCCI, premium volume in Indiana has risen steadily from $617 million in 2010 to $783 million in 2012, reaching $830 million last year. The state's combined ...