IWIF Reports Underwriting Loss En Route to Conversion

The Injured Workers Insurance Fund (IWIF) reported a $53.2 million underwriting loss for 2011, despite a $1.7 million increase in net earned premiums and a $14.6 million increase in surplus.In its 2011 annual report, the Towson, Md.-based carrier reported that total assets declined from $1.75 billion to $1.72 billion between 2010 and 2011. Net earned premiums increased from $168.9 million to $170.6 million, and surplus increased from $306.8 million to $321.4 million.TThe insurer's combined ratio declined from 132.2% to 128.5%.IWIF serves as Maryland's workers' compensation carrier ...