COVID-19's Potential Long-Term Effect on Workers’ Comp Premiums
Absent a miraculous economic recovery, workers' comp premiums written may not return to pre-pandemic levels until 2023.
When we’re asked how the COVID-19 outbreak may affect insurers, our answer is the classic consulting response — “It depends” — since the impact could differ widely depending on the line of business. Homeowners insurance, for example, may see premium growth flatten but could escape the pandemic relatively unscathed, given its solid base of insurable exposures.
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