Standard & Poor's Says Comp Profitability Unlikely

By Greg Jones, Western Bureau ChiefDespite rate increases in some states and talk of a hardening market for workers' compensation insurance, international credit-rating agency Standard & Poor's said it remains "bearish" on the industry because of the sluggish economy.Siddhartha Ghosh, a credit analyst with S&P in New York, wrote a report published on Monday that warns of continued years of poor profits for workers' compensation carriers and possible downgrades of ratings for some insurers with a heavy concentration in the workers' compensation line.The title of Ghosh...