BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Workers comp premiums drop, but industry remains healthy: S&P

Financial report

Workers compensation insurers’ year-over-year premiums have declined so far in 2019, according to a market intelligence analysis from S&P Global Inc. released Monday.

Fourteen of the top 20 workers compensation underwriters reported premium declines in the first half of 2019, and total comp premiums for the industry declined to $27.03 billion — down 2.8% compared with the previous year — with AmTrust Financial Services Inc. reporting the biggest drop, according to the analysis by the New York-based rating agency.

New York-based AmTrust dropped from the No. 3 workers compensation insurer based on direct premiums earned in 2017 to No. 7, with premiums declining 15.5%, bringing its premiums earned in 2019 to $1.19 billion.

The State Compensation Insurance Fund, based in San Francisco, reported the second-largest decline in earned premiums at 15.1%, bringing its 2019 premiums to $594.6 million from $700.5 million in 2017. American International Group Inc.’s premium decline took the third spot with a 14% year over year dip, with $772 million in direct premium earned in 2019.

However, loss ratios also declined, indicating continued industry profitability, reported S&P, with AIG’s loss ratio taking the top spot at 90.1%.






Read Next