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 State of the Line Update: The Latest Results in 2026

16 Oct, 2026 NCCI

                               

WHAT: NCCI releases the latest financial results report – both updated results for 2025 and an early look at 2026.

At NCCI’s Annual Insights Symposium (AIS) in May 2026, NCCI presented the State of the Line Report, a comprehensive assessment of the workers compensation insurance line of business. The results presented in that report reflected the most current data available at the time, including NCCI’s preliminary estimates for Calendar Year (CY) 2025.

KEY INSIGHTS:

Final workers compensation private carrier countrywide results:

  • CY 2025 net written premium (NWP) decreased from 2024 by 0.2% (staying around $41.6 billion).
  • The CY 2025 combined ratio was 90.6%, and the operating gain was 18.2%.

Updated preliminary claim frequency and severity estimates for NCCI states are unchanged from the initial estimates announced at AIS:

  • Accident Year (AY) 2025 claim frequency is still expected to be 2% lower than 2024.
  • AY 2025 indemnity claim severity and medical lost-time claim severity are estimated to be 4% higher than 2024.

Early 2026 results for private carriers, while still preliminary and subject to revision, show:

  • CY 2026 direct written premium (DWP) decreased 0.4%, compared with the first half of 2025.
  • The CY 2026 direct loss ratio is 52%, two points higher than the first half of 2025.
  • The line is expected to have another strong year with continued underwriting gains in 2026 and a net premium volume like that observed in CY 2025.

WHY IT MATTERS:
These updated results provide the latest view of workers compensation system performance and key indicators shaping the industry, while offering an early look at emerging trends in 2026.

TO LEARN MORE:
Read the updated State of the Line Update: The Latest Results in 2026 for a deeper look at private carrier results, claim frequency and severity trends, and early indicators for 2026.

Looking for information at a glance? Check out: State of the Line - Latest Results One-Pager.

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