After years of stable payments, medical costs per claim for injured workers in California rose 5% as of 2024, according to a new study by the Workers Compensation Research Institute (WCRI).
Tag: workers comp
California Workers’ Comp Report Examines Functional Restoration Programs
A new study from the California Workers’ Compensation Institute (CWCI) provides a detailed look at Functional Restoration Programs (FRPs) used to treat injured workers whose conditions do not respond to traditional therapies.
Using Data & AI to Fight Workers’ Compensation Insurance Fraud
A new report from Conning, 2025 Workers’ Comp Study: Using Data & AI to Fight Workers’ Compensation Insurance Fraud, provides an in-depth analysis of the evolving landscape of workers’ compensation insurance fraud.
US Workers’ Compensation Insurance Segment Continues Winning Streak
The workers’ compensation segment continues to outperform every other line of business in the U.S. property/casualty (P/C) industry, bolstered by ongoing declines in loss frequency and favorable reserve development, according to a new AM Best report.
Workers’ Comp Insurance Premiums See Significant 1% Increase in One Year
The National Council on Compensation Insurance (NCCI) has reported a significant 1% increase in workers’ compensation premiums from 2022 to 2023.
U.S. Workers’ Compensation Market Leads the Industry in Profitability: NCCI
The U.S. workers compensation insurance market has the “strongest profitability” of all lines of property/casualty business, posting an 86% combined ratio in 2023, according to the National Council on Compensation Insurance’s (NCCI) annual State of the Line repor
CIAB: Premium Increases Flat to Down Q1 2024
Premium increase moderation continued this quarter, with premiums across all account sizes increasing by 7.7%, slightly up from the previous quarter’s 7.0%. It was the 26th consecutive quarter of increases.
Omaha National Acquires California Domiciled Insurance Company
Omaha National Group Inc., a leading tech-enabled provider of workers’ compensation insurance, has acquired Sutter Insurance Company, a California domiciled insurance carrier that has been renamed Omaha National Casualty Company.
U.S. Commercial Insurance Rates Sustain Upward Trajectory Exceeding 6%
U.S. commercial insurance rates have continued their upward trajectory through the fourth quarter of 2023, according to the latest findings from WTW’s Commercial Lines Insurance Pricing Survey (CLIPS). Carriers reported an aggregate commercial price increase of 6.7%, continuing a consecutive quarter upsurge over 6%.
Renewal Rates for Nearly All Commercial Lines Up YoY; Nearly All Experience Decrease Month Over Month
Year over year, all major commercial lines experienced an increase in average premium renewal rates. Month over month, Workers’ Compensation experienced an increase in premium renewal rate change, while Commercial Auto, BOP, General Liability, Commercial Property, and Umbrella saw decreases.