Residual Market Growing, Underwriting Challenges Remain

By David Dankwa, Senior ReporterGrowth within the workers’ compensation residual market is continuing this year after a nearly 50% jump in total premium in 2012.Jim Nau, general manager for residual markets at the National Council on Compensation Insurance, said the volume of new business going into the pools fell slightly in the first quarter of 2013 but remains above where it was last year. In 2012, NCCI-serviced residual pools – consisting of 21 states – grew by an estimated $800,000 in premiums, compared to an increase of $500,000 the year before. “One of the big th...