Some Employers, Worker Advocates Seeing Red Over Insurers' Rosy Profit Report

Officials at the National Council on Compensation Insurance's annual symposium this week stressed repeatedly that the comp insurance industry is riding high as it sails into the COVID-19 recession, thanks to record profits and reserve funding. That wasn't comforting news to some employer groups, worker advocates and industry consultants, who argued that the glowing financial reports indicate that loss costs and premiums could have been trimmed significantly more than they have been in recent years. “Employers face growing concerns about the cost of workers’ compensati...