2023 Webinar - Workers Compensation: Results, Research, and Recent
Trends - August 9
Discuss a variety of workers compensation topics from the
actuarial perspective. This includes an overview of industry financial results,
recent trends, medical cost drivers, and large claim behavior. Key messages include: The calendar year combined ratio for workers compensation
is 84%, a sign of underwriting profitability for the system; Workers compensation’s accident year combined ratio is
97% with prior years continuing to experience downward reserve development; Lost-time claim frequency returned to its 20-year trend,
declining 4% in the past year; NCCI introduces an analytic method to deconstruct changes
in medical utilization over time into contributions from changes in injury mix
and medical treatment; The factors driving inflation in large claims can be
vastly different from the trends affecting more typical workers compensation
claims.
Learning Objectives:
- Discuss a variety of workers compensation topics.
- Provide an overview of financial results, cost drivers, and recent trends.
- Discuss results from an actuarial perspective.
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