Workers' Comp Renewals Stay Competitive as Severity Pressures Build

Midyear workers' compensation renewals remained favorable for employers nationally, but an increase in California advisory pure premium rates is raising concerns that claim severity and medical costs could eventually erode soft market conditions. Insurers continue to compete aggressively for profitable workers' comp business and are using the line to secure or retain broader casualty and umbrella relationships, brokers say. “Many insurers continue to view workers' comp as their most profitable casualty line and are willing to use it strategically to retain or win broader re...