Private comp insurer net written premium declines

Private workers compensation insurer net written premium decreased 9.5% to $38 billion in 2020, according to updated results released Thursday by the National Council on Compensation Insurance.

NCCI said the private insurer combined ratio for 2020 was 87.0%, matching the estimate published in May. The operating gain was 23.2%.

The 2020 combined ratio marked the seventh consecutive underwriting gain for the industry, according to the report.

Preliminary analysis shows private insurer direct written premium declined through the first two quarters of this year compared with the same period in 2020.

NCCI expects 2021 premium to decrease by 5.6% on average, based on rate/loss cost filings made in jurisdictions for which NCCI provides ratemaking services.