Other conferences may be hurting, with corporate travel restrictions cutting attendance, but that doesn’t appear to be the case at this year’s NCCI Annual Issues Symposium.
While we’ll have to wait for a few more minutes to hear Dennis Mealy’s Annual state of the industry presentation, what is clear from conversations at the opening reception, and the number of people attending, is this is a dynamic time in work comp, with lots of external factors (reform, recession, investment returns, technology, CMS) pushing, pulling, and twisting comp companies in ways they’ve never been pushed, pulled, or twisted before.
here are a few of the early highlights from NCCI’s press release…
– the 2009 accident year combined ratio is up 5 points from the previous year to 107
– the calendar year combined was up even more, climbing 9 points to 110
– pricing continued to decline in 2009, not helping carriers’ reserve situation which also worsened albeit slightly
– medical cost increases moderated somewhat, although they remain a couple pointds above overall medical inflation
– indemnity claim costs also continue to rise, with a similar moderating trend.
more to come.
May
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