Liberty Mutual's Written Premiums For Workers' Compensation Have Decreased By More Than 1 Billion Dollars in Past Three Years By Lonce LaMon - March 8, 2015
Liberty Mutual's net written premiums for voluntary market workers' compensation policies have decreased in the past three years from $3.58 billion in 2011 to $2.15 billion in 2014. According to Business Insurance Magazine on March 5th 2015, an expert said this raises the question of whether Liberty plans to leave the work comp market.
The National Association of Insurance Commissioners put Liberty Mutual in the number four spot among workers' compensation insurers for 2014, down from the number two spot in 2013, and from first place for the previous five years.
Paul Condrin, president of Liberty Mutual's commercial insurance strategic business unit, said according to Business Insurance's March 5th article, "Over the past several years, Liberty has strategically reduced its exposure to workers' compensation by targeting underperforming accounts that were contributing to unacceptable results. As a leading provider of commercial insurance today, we continue to be a strong market for workers' compensation insurance while our claims and loss prevention expertise and customer service focus provide value and superior outcomes to our customers."
lonce@adjustercom.com, Lonce LaMon, journalist
Adjuster / Examiner Claims Examiner Santa Ana Unified School District Santa Ana, CA