Lack of New Business, Premium Returns Could Weigh Down Carriers in 2021

As the COVID-19 pandemic continues to grip much of the U.S., workers’ compensation insurance carriers may feel the negative effects of the virus throughout 2021 and beyond, according to a new study on comp trends. Cloud-based data firm Insurity recently released its "Workers’ Compensation Industry Trends" report, which outlines how the pandemic has exacerbated challenges for insurers that offer comp coverage, the firm says. Insurers had a difficult time finding new business during last year’s stretch of the pandemic, and carriers may be forced to return large...