ORLANDO , FLA.
During the opening session of its Annual Issues Symposium, attendees listening to the NCCI "State of the Line" market analysis learned that the firm's projection for the 2008 accident year combined ratio is 100.
Low interest rates together with dismal equity market performance leaves the line with "post-tax returns that barely meet the industry's cost of capital," NCCI President and Chief Executive Officer Steve Klingel, said in a statement released before the briefing.
For 2007, NCCI had projected a combined ratio of 99--a figure now revised to 96. NCCI said the projected calendar-year combined ratio for 2008 was 101--a figure that would have been 106 had California results been excluded. The accident-year ratio, however, would be unchanged by leaving out California, according to the analysis.
Continue Reading for Free
Register and gain access to:
- 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
© 2024 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.
