Workers' Compensation Insurance in the US - Industry Market Research Report

Workers' Compensation Insurance in the US - Industry Market Research Report

Workers' Compensation Insurance in the US

Workers' compensation insurance providers have struggled to recover from the major hit brought on by the COVID-19 pandemic. Interest rates plummeted, decimating the industry's investment portfolio. Soaring unemployment rates amid mass furloughs and the emergence of wide-scale remote work severely cut into demand for workers' comp and pushed down the industry's revenue. The industry was already at a downward point in its pricing cycle, pushing more catastrophic dips in revenue as insurance providers wrestled for control in an overcrowded market. Overal, industry-wide revenue has been dropping at a CAGR of 2.9% over the past five years and is expected to total $55.0 billion in 2023, when revenue will climb by an estimated 1.9%.

This industry underwrites (i.e. assumes the risk and assigns premiums for) workers’ compensation insurance, which protects businesses from liabilities related to injuries at the workplace.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.