About Us Alliances News Education Resources
PHTS Logo PHTS Logo PHTS Logo
New Account?  Forgot Password?     
Viewpoint


E-zines


Media Releases
News

NCCI: Poor outlook for the economy = better outlook for comp
1/6/2012
 
In its December 2011 report titled Gauging the Economy (available online at www.ncci.com/documents/Gauging_Eco_Newsletter_Dec-11.pdf), the National Council on Compensation Insurance sees continued weakness in the economy in 2012. Fewer jobs mean fewer work-related accidents, the group notes.

NCCI adds that “changes in average weekly wages are a key factor in determining indemnity severity. The projected weakness in the labor market suggest that pressure on indemnity severity due to wage inflation should increase only slowly.” At the same time, all indications are that medical inflation will remain strong, and that will add to claims costs.