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

Comp combined ratio deteriorates slightly in 2023

combined ratio

The combined ratio for the U.S. workers compensation market worsened slightly in 2023 even as premiums increased year over year, according to an S&P Global Market Intelligence analysis released Tuesday.

The workers comp combined ratio increased to 84.9% from 84.5% this year, as direct premiums written and net premiums written also grew to $56.69 billion and $48.02 billion, respectively, according to the report.

Although higher than the previous year, 2023’s combined ratio remained stronger than the five-year peak of 88.1% in 2021, S&P said, with analysts stating that 2025 will likely be another profitable year for the industry “short of an unexpected turn in the domestic economy, judicial environment or other underlying cost drivers.”