State Work Comp plans control 25% of the work comp insurance premiums

A recent report showed that State work comp funds are insuring 25% of the work comp market. This high percentage is a disturbing sign that indicates the standard insurance marketplace is loosing its appetite for work comp. With the increasing costs of medical care and the rate decrease mandates from many States, insurance companies are staying out of the comp market because they can't make money. How this will play out for business owners is hard to tell. It is nice to have low premiums now but a loss of standard market options only bodes unfavorably for business owners in the long run. Stay tuned !   K
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