Workers' compensation is the largest segment of all U.S. commercial lines, representing 18 percent of property/casualty industry commercial lines net written premiums in 2012, and has also been the worst-performing major commercial lines segment for some time, according to a new Fitch Ratings report.
However, underwriting results for the U.S. workers' compensation market are set to improve over the remainder of 2013, reversing several years of poor performance; also, the 2012 industry aggregate segment combined ratio improved to 110 percent from 117 percent in the prior year. In its report, Workers' Compensation Insurance Market Update, Fitch projects a 105-percent workers' compensation calendar year combined ratio in 2013.
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