Written premium in 2022 is 14% higher than in 2021 and nearly at the pre-pandemic level, the Workers' Compensation Insurance Rating Bureau said in its Third Quarter 2023 Experience Report, released Wednesday.
The WCIRB reports $15.7 billion in written premium for 2022, up from $13.9 billion in 2021. Higher wages and economic recovery are driving the increase, the bureau said.
Written premium through the third quarter of 2023 is $12.1 billion, which the WCIRB said is about 2% higher than in the same period of 2022.
The average charged rate for the first nine months of 2023 was ...
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