GT Insurance Blog

Insurance problems and cures

What’s the state of Workers’ Compensation?

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Here’s a link to a presentation by the National Council on Compensation Insurance (NCCI) Chief Actuary in May 2012.  In a word, nationally results are bad for the insurance companies and Workers’ Compensation rates will be rising.  https://www.ncci.com/Documents/AIS-2012-SOL-Presentation.pdf 

In summary, losses are rising, expenses are not improving, medical costs keep rising even though lost time claims are not, and even with price increases insurance companies are losing money.

If you have questions about Workers Compensation in New Jersey, see our primary site at http://www.gbwinsurance.com/workers_compensation or call us at 1-800-548-2329

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