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NCCI’s 2023 Financial Results & 2024 Preview- Will There Be a Turn?

16 Oct, 2024 NCCI

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NCCI’s recent report, "2024 in Sight, 2023 in Review: The Latest Results for Workers Compensation,"  focuses on an update of the financial results for the workers compensation line of business for 2023, with an early look at 2024. These favorable results are consistent with what we’ve seen over time, including a decade of underwriting gains for private carriers. Combined ratios have been low in recent years due to continued declines in frequency, moderate severity, and growing wages.

Some carriers have asked: Will these trends continue or will there be a turn? NCCI is responding with “Navigating the WC Cycle: Will There Be a Turn?” In this one-pager, we examine potential market disruptors that could impact the workers compensation system.

While we can't predict the future, we can say there doesn't appear to be any imminent reversal to the current trends. NCCI continues to closely monitor these trends for signs of change and bring you the latest insights to support informed decision-making.

Save the date for Annual Insights Symposium 2025, scheduled for May 12–14, 2025, where we’ll present our full-year view of 2024 results.

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