The Workers' Compensation insurance market continues to face challenges following further deterioration in underwriting performance in 2001, according to a new report published today by Fitch Ratings. Despite significant pricing improvements in most states, the workers' compensation combined ratio increased to 121% in 2001 from 118% in 2000, representing the sixth consecutive year of deteriorating underwriting performance.
'The unexpected losses related to the events of September 11 were a contributing factor behind the poor performance,' said James B. Auden, Senior Director, Fitch Ratings. ...
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