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Rising costs, advances and uncertainty in health care were named top concerns for 2018 among workers compensation executives surveyed recently, the National Council on Compensation Insurance announced Wednesday.
The Boca Raton, Florida-based ratings agency conducts the annual survey of senior insurance executives to help the industry identify key issues for workers compensation insurers, the group said in a press release.
For the fourth consecutive year, insurance executives identified the health care environment as their top concern for 2018. Concerns that followed included political, regulatory, legislative and legal environment; maintaining profitability both today and tomorrow; the changing workplace and workforce; the future of the workers compensation industry; and opioid abuse and medical marijuana.
"The results of our (survey) help us focus our research and analytical efforts in the year to come on the issues that matter most," said Bill Donnell, NCCI president and chief executive officer, in a press release. "In 2018, NCCI will focus more than ever on providing stakeholders the information and key insights they need to navigate through the complex workers compensation environment."
NCCI conducted the annual survey in September 2017, polling the most senior executives at more than 100 insurers across the United States.
The National Council on Compensation Insurance said Monday that it has recommended an overall premium level decrease of 9.6%, effective Jan. 1, 2018.