Workers’ Compensation: The Bubble is Bursting
Looking at the insurance industry, the saying, “Things often get worse before they get better,” is perhaps nowhere more relevant than in workers’ compensation.
In the past several months, carriers, brokerages, and financial analysis firms have decided workers’ comp has gotten cheap enough and historical losses (taking place over the past 5-6 years) are unsustainable. This combination means that your clients are likely to face material rate increases sooner than later.
Shawn Hall, SVP/Managing Director of Workers’ Compensation of Breckenridge Insurance Services has put together a comprehensive whitepaper on the challenges and struggles that are facing the WC market.