Workers Compensation: State of the Risk

Workers Compensation

The workers compensation insurance industry experienced its second best underwriting result in the past twenty years in 2023 with a net combined ratio of 87. It was the ninth year in a row of net underwriting profit following eight years of a net combined ratio over 100, or ten of the previous eleven years. In comparison, workers comp has outperformed the combined property and casualty insurance industry in net combined ratio each year since 2015.

(As of February 11, 2025)

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Previous Workers Compensation: State of the Risk

• July 27, 2023