|
View our new Virtual Issues Report Message from Stephen J. Klingel, CPCU 
President and CEO
NCCI Holdings, Inc.
The 2010 edition of NCCI’s Workers Compensation Issues Report arrives at a time of considerable market stress. Among the more pressing issues are continuing financial fallout from the long recession; an increasingly active federal government; and state officials across the country struggling with reduced budgets and staff.
Among the topics examined:
- Updated market results from NCCI’s exclusive State of the Line report, delivered in May
- Two looks at the recession’s effect on the workers compensation industry—from Bob Hartwig, president of the Insurance Information Institute, and Harry Shuford, NCCI chief economist
- Reflections on the California workers compensation market from Robert Mike, president of the WCIRB
- A description of the NAIC’s 2010 industry agenda from Jane Cline, president of the NAIC and West Virginia’s insurance commissioner
- A forecast for state-based activities aimed at workers compensation legislation and reform throughout the country
We trust that you will find these articles both timely and insightful.
And of course, NCCI will continue to provide additional industry research, analysis, and issues overviews at ncci.com throughout the year.
Please enjoy the 2010 edition of NCCI’s Issues Report.
Stephen J. Klingel
President and CEO
NCCI Holdings, Inc.
Issues Report
is produced by the National Council on Compensation Insurance, Inc. (NCCI), 901 Peninsula Corporate Circle, Boca Raton, Florida 33487.
Issues Report provides a forum for the expression of various opinions on subjects relating to workers compensation insurance. The opinions expressed in the articles are the opinions of the authors and do not necessarily express the views of the National Council on Compensation Insurance, Inc. Materials contained in Issues Report are subject to copyright claims and other proprietary rights. Material may be used for research or other noncommercial purposes. We ask that you observe the following conditions:
- Cite individual author and Issues Report when using the materials
- Do not abridge or edit material in any way that may alter the authors' intentions
Any commercial use of these materials requires explicit, prior authorization from NCCI.
|
NCCI's Workers Compensation 2010 Issues Report Articles |
View our new Virtual Issues Report
|
Workers Compensation Market Outlook: Unprecedented Challenges/Federal Update  |
By Stephen J. Klingel
President and CEO, NCCI Holdings, Inc.
In NCCI’s annual State of the Line forecast for the market delivered last May, we changed our short-term view of the line from optimistic to guarded, and the long-term outlook for workers compensation to cautionary. That outlook remains unchanged today. This article examines some of the driving forces behind NCCI’s guarded market outlook.
|
The “Great Recession” and Workers Compensation: Assessing the Damage and the Road to Recovery |
By Robert P. Hartwig, Ph.D., CPCU
President & Economist, Insurance Information Institute
The global financial crisis that spawned the recent “Great Recession” inflicted massive, and in some cases irreparable, damage to the United States economy. Entire industries buckled under the strain—cutting loose millions of workers whose jobs will, in many cases, never return.
|
Will There Be a Recovery in Workers Compensation? |
|
By NCCI's Actuarial and Economic Services Team
The “Great Recession” has ended! At least that’s the view reflected in the current consensus outlook for the US economy. The workers compensation system has suffered along with most other sectors during the recent recession; how will it fare during the anticipated recovery? The outlook for 2010 is not favorable, but it is somewhat more positive for 2011.
|
2010 Legislative and Regulatory Outlook |
By Peter Burton, CPCU, AU
Senior Division Executive, State Relations
NCCI Holdings, Inc.
Looking back at 2009 workers compensation legislation forecasts, the early predictions that state legislative sessions would be extremely active did not come to fruition—largely because the nation’s ailing economy tempered state policymakers’ actions.
|
NAIC: The Future is Now |
By Jane Cline
NAIC President and West Virginia Insurance Commissioner As this new decade dawns, there is much work on the horizon for the National Association of Insurance Commissioners (NAIC) and the insurance industry as a whole. The reality of the future of insurance regulation includes vast and sweeping changes like federal healthcare reform and financial regulatory reform, and more nuanced work like a white paper to accompany the PEO Guidelines.
|
Smoothing the Roller Coaster Ride: The California Workers' Compensation Experience |
By Robert G. Mike, President and Dave Bellusci, SVP and Chief Actuary
Workers’ Compensation Insurance Rating Bureau of California
Valencia, CA is home to the Six Flags Magic Mountain amusement park, which boasts a collection of edge-of-your-seat thrill rides for those with a strong constitution and the bravery to climb aboard. Like Magic Mountain, the California workers compensation market in the 15 years since its deregulation has been a roller coaster ride and not a place for the faint of heart.
|
Debating “CompCare”: How Federal Healthcare Legislation Might Affect Workers Compensation |
By Bill Thorness, AIC
Concerns over the impact of federal healthcare legislation have rippled out to insurers of every kind, and the workers compensation industry is no exception. As the bills were being debated in Congress, and this edition of NCCI’s Issues Report was going to press in early 2010, we discussed the wide-ranging topic with industry experts. Although the legislation was not finalized—and some proposals may resurface later in 2010 if not passed in the current round of bills—many of the well-established issues made for a spirited debate.
|
Nanotechnology and Workers Compensation Insurance |
By Brian Racine and Larissa Lacman
NCCI Legal Division Nanotechnology is considered by many to be the most significant scientific breakthrough of the 21st century. In fact, it is estimated that billions of dollars are spent on nanotechnology research each year and that amount is projected to reach into the trillions by 2015. The potential for this new technology to improve products and influence the everyday lives of people is incredible. But with great benefits come great risks—risks to the insurance industry, as well as to health and the environment.
|
Burdens of Obesity |
By Harry Shuford, PhD
Chief Economist
NCCI Holdings, Inc. Lifestyle choices have consequences. Sisyphus was condemned to perpetual labor, pushing a boulder up a hill only to have it roll back down again and again. Tantalus was surrounded by food and water but was doomed to perpetual thirst and hunger as sustenance was always just out of reach. If there were an Obesity, he would be condemned to always carry an enormous weight strapped to his waist whether upright or prone, awake or asleep. Sisyphus and Tantalus are figures from Greek mythology. Obesity is real, and its burdens are pervasive. |
NCCI Research Update |
By NCCI Research Staff
During 2009, NCCI continued to produce cutting edge industry research on areas of broad market concern and interest. These brief summaries represent just a few of the NCCI research studies now available on ncci.com.
|
Workers Compensation Legal Briefs  |
Attorney Charles Tenser examines four of the most discussed legal challenges involving workers comp and reports on the latest court rulings.
|
|
|
|
|
|