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Reports Show Deep Impact of COVID on Claims, Premium

By William Rabb (Reporter)

Friday, January 15, 2021 | 1490 | 0 | 128 min read

Two new national reports shed light on 2020 and the impact that the COVID-19 pandemic has had on the workers' compensation industry. First, net written premium for 2020 has taken a significant hit, but profit levels remain strong, the National Council on Compensation Insurance said in a report released Thursday. Net premium for calendar year 2020 is estimated to be at just under $39 billion — an 8.1% drop from 2019, based on data from across the country. But the combined ratio, a measure of profitability, will rise only slightly to 86% compared to 2019's near-record low level o...

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