Economy and Premium Will Take More Than Two Years to Bounce Back, Hartwig Says

Two years. At least. That's how long it will take the U.S. economy and workers' compensation written premium to recover from the recession forced by the nationwide COVID-19 pandemic, said Robert Hartwig, an economist and professor who has studied the insurance industry. “To get us back to where gross domestic product was in the fourth quarter of 2019, it will probably be the fourth quarter of 2021. That's how long it will take,” Hartwig said Wednesday during a webinar that examined the economic impact of the coronavirus downturn. Economists expect a bounce back i...