The National Council on Compensation Insurance said in its latest “State of the Line” report that private carriers notched an 11th consecutive year of underwriting profitability with a combined ratio of 86% in 2024.
It’s the eighth consecutive year that the combined ratio was below 90%, NCCI said.
The overall property and casualty net combined ratio dropped to 97% in 2024 from 102%.
Work comp lost-time frequency dropped 5% in 2024, a faster pace than the long-term average decline of 3.6% since 2004.
At the same time, NCCI reported that the net premium written by priva...
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