Workers comp frequency flattening

Business Insurance reports that claim frequency in workers comp is flattening out and may begin rising soon:

The widespread shift is significant because declining frequency of workers comp claims—or lost-time claims filed per payroll dollars—has helped counter rising costs driven by the severity of claims, said Eric Brosius, senior vp and corporate actuary for Boston-based Liberty Mutual Group Inc.

Claims frequency, which had been falling an average of about 4% per year because of safety programs and worksite automation, is a substantial driver of workers comp loss costs and rates, other observers said.

Other comp carriers are seeing the same thing, the story adds.

Advertisements
Tagged

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: