Study Says Comp as Bad as 20 Years Ago

Reported by IMMS 03/24/00: A recent report by the American Academy of Actuaries concludes that underwriting losses in the Workers Compensation market remain as serious as they were almost two decades ago. The study, 'The Workers Compensation System: An Analysis of Past, Present and Potential Future Crises,' found that the industry posted a calendar-year combined ratio of 108, and an accident-year ratio of 122 for 1998. Although accident-year results for 1999 aren't yet available, the combined ratio for the year rose to 115. 'Combined ratios are just as high, if not higher, than they were at ...