According to the insurance industry magazine, National Underwriter, total work comp premiums in the US dropped from $47.2 billion to $26.4 billion from 2006 to 2007.
The annual loss ratio (losses divided by premiums) also increased
The annual loss ratio (losses divided by premiums) also increased
from 57.8% to 59%.
What's your loss ratio? Divide your losses by your premiums over the last three years.
If you have a loss ratio under 50%, use that number when negotiating for lower premiums with your insurer at renewal.
What's your loss ratio? Divide your losses by your premiums over the last three years.
If you have a loss ratio under 50%, use that number when negotiating for lower premiums with your insurer at renewal.
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