Insurance Information Institute Says Underwriting Profitability Remains Strong

The Insurance Information Institute on Tuesday said the national workers' compensation industry continued its strong trend of underwriting profitability in 2023. "The workers' compensation insurance industry experienced its second-best underwriting result in the past 20 years in 2023 with a net combined ratio of 87," III said in an issues brief. "It was the ninth year in a row of net underwriting profit following eight years of a net combined ratio over 100, or 10 of the previous 11 years." The average rate change for workers’ comp insurance has remained neg...