A panel of experts considering the battered workers’ compensation insurance market said they see a hardening price climate amid increasing uncertainties.
The various predictions were presented at the annual conference of the Florida Workers’ Compensation Institute, sponsored by The National Underwriter Company.
The panelists predicted rate increases of 20 percent in the present market and worried about how long reduced loss frequencies would remain at current levels.
James Roberts, president of the Paterson, N.J.-based special workers’ comp division of American International Group, said that he foresaw significant reductions in discretionary credits, with policyholders seeing rates going up 10 to 20 percent.
