Workers' Compensation

Insurance providers that offer workers’ compensation are taking a wide variety of actions in order to move towards profitability in this highly-regulated market.  Financial results improved last year for workers’ compensation providers, but they continue to lose money in the market.  According to the state agency that evaluates the results for workers’ compensation insurance, the “combined ratio” (expenses and claims to premium received) for workers’ compensation insurance in California for 2013 was 122 -- for every dollar of premium the insurance industry took in in, it paid out $1.22.  This is better than 2012 when the combined ratio was 141.

 

Greg Nelson

The workers’ compensation insurance industry is not making a profit, says an analyst of the American insurance industry, and is currently losing 8.5 cents on every dollar of premium it collects.  This means rates will continue to rise in order to move the industry to profitability.  Although the situation has improved, most carriers are trying to recover from several years of negative results. 

Greg Nelson

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Workers' Compensation Archive