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AM Best: Comp Outpacing P&C Lines, Outlook 'Negative' Over Pandemic Uncertainty

Friday, October 8, 2021 | 0

AM Best said underwriters of workers’ compensation insurance in 2020 continued their trend of generating better profits than other property and casualty lines of business despite the effects of the pandemic. At the same time, the global credit rating agency said its outlook for the comp market is "negative" as a result of continued uncertainty about the effects of COVID-19. Work comp underwriting results were strong in 2020 despite a 10% decline in net written premium driven by a large drop in payroll during the second quarter of the year. The combined ratio of 91.1% in 2020...

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