The workers' compensation market is proving to be an increasing challenge for insureds and while alternative risk transfer mechanisms may help, close analysis needs to be made before venturing into a program, say executives from insurance broker Marsh.
In its second of a three part series on workers' comp programs, Tracey Ant, primary placement leader in Marsh's U.S. casualty practice, says that line of business “leads all commercial lines with the highest combined ratio” and results continue to deteriorate for insurers.
She cited medical inflation as the primary reason for the deteriorating results, along with low investment yields. The result is workers' comp rates are on the increase.
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