NCCI: Workers' Compensation Remains Healthy

The National Council on Compensation Insurance reported on Tuesday that the workers' compensation system remains healthy, with private carriers notching their 12th consecutive year of underwriting profitability in 2025. The average combined ratio for workers' compensation carriers increased to 91% in 2025 from 86.1% in 2024, according to NCCI's latest State of the Line report. A combined ratio below 100% means carriers paid less in benefits than they collected in premiums and demonstrates profitability. Overall, the property and casualty industry combined ratio fell to 93% in 202...