US workers compensation industry will continue to be profitable this year

US workers compensation - safety shoes - screw - risk of accident

Fitch data showed that the market remained strong throughout 2017 with positive 2018 performance. New Fitch Ratings data shows that the US workers compensation industry did well last year and may continue to see underwriting profits this year. The data from last year until now shows a trend of strong performance, though that could change. Last year’s strong US workers compensation performance represented the third consecutive year following that trend. The industry statutory combined ratio was around 92 percent, said Fitch Ratings data. The recent Fitch Ratings report showed that…

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Major problems in overseas insurance program costing the U.S. government millions

Problems in the infrastructure of the U.S. workers’ compensation insurance program that provides coverage to contractors in Afghanistan have cost the nation millions, according to the Special Inspector General for Afghanistan Reconstruction. The audit, lead by Major Brad Willcockson, found that workers in the region often go uninsured as a result of nonexistent oversight in the program. According to the audit, the problems may lie in the programs administrator: Continental Insurance. The insurance company is a subsidiary of CNA Financial Corp., and was pegged by the U.S. government to provide…

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