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BOCA RATON, Fla.—Workers compensation lost-time claim frequency declined by 1% in 2011, according to a report from NCCI Holdings Inc.
In a report released Thursday, the Boca Raton, Fla.-based ratings and research agency said last year's claims data points toward possible economic recovery. Claims frequency rose 3% in 2010—the first increase in 13 years—which NCCI attributed partly to an increase in post-recession hiring.
Despite a decreasing number of claims, NCCI said the average indemnity cost per claim rose 2% last year to $22,300. Average medical cost per claim also increased 4% last year to $28,000, NCCI said.
NCCI noted that improved technology and workplace safety measures have contributed to long-term declines in workers comp claim filings.
Frequency also has declined, in part, due to an increased number of aging workers, who tend to have fewer workplace accidents, NCCI said.
While workers compensation insurer premium growth shows “that the worst of the recession has passed,” the insurance market for injured-employee coverage “remains in a worrisome state,” NCCI Holdings Inc. reported Thursday.