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2022 Workers Compensation Financial Results Update

08 Nov, 2022 WorkersCompensation.com

                               

WHAT: NCCI provides updated results for 2021, as well as preliminary information for 2022.

KEY INSIGHTS:

WC 2021 Financial Results:

  • WC Calendar Year 2021 private carrier net written premium (NWP) increased from 2020 by 0.5% to $38.2 billion
  • The WC Calendar Year 2021 private carrier combined ratio was 87.2%, and the operating gain was 23.7%

Preliminary 2022 Analysis*:

  • WC Calendar Year 2022 private carrier direct written premium (DWP) increased nearly 10% through the first two quarters of 2022, compared with DWP through the first two quarters of 2021
  • The WC Calendar Year 2022 private carrier direct loss ratio through the first two quarters of 2022 is lower than that observed through the first two quarters of 2021

*Still early and subject to revision, preliminary analysis is through the second quarter of 2022.

ADDITIONAL INFORMATION: Based on these assumptions, NCCI estimates that the countrywide WC Calendar Year 2022 private carrier combined ratio will be lower than that for 2021. NCCI will share its updated estimates for 2022 at the Annual Insights Symposium 2023 scheduled for May 8–10, 2023.

TO ACCESS THE FULL REPORT: Click here.

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