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 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.
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.
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