Workers' compensation will likely be the property-casualty line to benefit most from the economic stimulus package signed into law by President Barack Obama, although it may be quite awhile before insurers see any boost in their premium volume, according to Insurance Information Institute President Robert P. Hartwig.
Indeed, if the administration's target of 3.5 million jobs created or preserved is realized, that would translate into $1.1 billion in private workers' comp premiums, Mr. Hartwig predicted during a webinar put on by the Institute and Fireman's Fund Insurance Company, on "How the Economic Stimulus Plan Will Impact the Property-Casualty Insurance Industry."
However, he said the stimulus package is unlikely to increase net premiums written by more than 1 percent--or about $4.5 billion in total--while warning that since the package is only now being rolled out, insurers will likely not see its effects until year-end 2010.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
