A.M. Best Says Comp Improvements May Not Last

A.M. Best said workers' compensation insurers enjoyed a "solid" underreporting performance for the fourth year running in 2014, but the industry may not be able to maintain those results if a broadly competitive market returns. The ratings house said the combined ratio for workers' comp insurers dropped by 2.2 points in 2014 to 101.5, while net premiums written increased 5.6% to $46.8 billion from $44.3 billion in 2013. On the other hand, average rates decreased by 0.4% during the first quarter of 2015, "as pricing for what are currently the most profitable accounts ha...