NCCI Releases Annual Focus on 5 Highlighting Top of Mind Issues for Workers Comp Leaders
What's Hot for 2020?
BOCA RATON, Fla., Jan. 8, 2020 /PRNewswire/ -- With the beginning of the new year, the National Council on Compensation Insurance (NCCI) is releasing its 2020 edition of Focus on 5, the definitive list of issues that are top of mind for workers compensation industry leaders.
"It is critically important that we stay on top of the issues affecting our industry," said Bill Donnell, president and CEO of NCCI. "With a better understanding of the concerns of these leaders we can focus on key topics and provide insights that enable more informed decision making across the workers compensation system."
Focus on 5 is based on NCCI's annual survey of workers compensation executives from across the nation. In the 2020 edition of Focus on 5, these are the critical questions that the more than 100 executives surveyed are asking:
- Will insurers be able to react quickly enough to preserve rate adequacy if trends shift?
- How does an aging and changing workforce affect key industry drivers such as claims frequency and severity, along with wage and employment levels?
- What does the future hold for medical care costs given so many variables, such as emerging healthcare technology and treatments, issues related to opioids and marijuana in the workplace, and mega-claims associated with seriously ill or injured workers?
- Will the gig economy ever grow to the extent that it affects the traditional workforce? And will insurers develop innovative products to serve that market?
- How will rapidly changing workplace technology affect American jobs and the workers comp industry? Can regulation and legislation keep pace?
Workers compensation leaders are taking proactive steps to answer these questions and keep their respective organizations ahead of the game. To learn more about what these leaders are saying, and what they are doing to address these issues, please visit: Focus on 5 - TOP of Mind in 2020 for Work Comp Executives.
In 2020, NCCI will continue to monitor developments on these key topics and will provide periodic updates on emerging issues. To stay up to date on NCCI's research, please visit our INSIGHTS portal.
About NCCI
Founded in 1923, the mission of the National Council on Compensation Insurance (NCCI) is to foster a healthy workers compensation system. In support of this mission, NCCI gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations. These activities—combined with a comprehensive set of tools and services—make NCCI the source you trust for workers compensation information.
Contact: Cristine Pike
561-758-6965
SOURCE National Council on Compensation Insurance (NCCI)
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