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NCCI: Rate Adequacy, Aging Workforce, Medical Costs Among Top Issues for 2020

Tuesday, January 14, 2020 | 280 | 0 | 23 min read

The National Council on Compensation Insurance said rate adequacy, an aging workforce and medical costs are among the top concerns of work comp industry executives heading into 2020. Other pressing issues include the effects that the gig economy and changing workplace technology will have on the industry. NCCI said industry leaders reported closely monitoring the sustained trend of declining loss costs and are feeling the impact of slowed growth because of lower premiums. To address the adequacy of rates, many are using predictive analytics to help with pricing while also focusing ...

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