BALTIMORE -- Workers' compensation is outpacing other components of the hurricane-battered property and casualty industry in the growth of premium and profits, although medical costs still account for well more than half of the losses.
The shifts are occurring as the residual market continues to play a decreasing role in workers' compensation coverage and while the premium-to-surplus ratio has dropped to slightly less than one.
Steven Novak, CPCU and vice president of reinsurance services for insurance giant Aon, delivered his annual "State of the Line" address to the Self-Insurance/Insuran...
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