Fitch Projects 105% Combined Ratio for Work Comp Segment in 2013

Rating agency Fitch said underwriting results for the U.S. workers’ compensation market are set to improve during the remainder of the year, reversing several years of poor performance.Fitch is projecting a 105% combined ratio this year. In 2012, the industry aggregate combined ratio improved to 110% from 117% in the prior year. Workers’ compensation is the largest of all U.S. commercial lines, representing 18% of net written premiums last year. Following a long period of declining premium rates, workers’ comp pricing has increased for two consecutive years.Fitch said workers...