The residual market providing workers’ comp coverage for high-risk businesses that carriers won’t voluntarily insure is shrinking, according to a new report from the National Council on Compensation Insurance.
The residual share of the overall workers’ compensation market fell for the fourth year in a row last year, to 7.2%, compared to 7.5% in 2017. The figures apply to the 25 states plus the District of Columbia where NCCI services reinsurance pools tied to the residual market.
NCCI is projecting a residual market written premium of $1.025 billion for 2018...
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