It’s easy to get swept away in the hype when something’s going well. It’s much harder to take a step back and turn a truly objective eye on your good fortunes, especially if there are cracks everyone seems to be ignoring. This is the poisoned chalice that is the US workers’ compensation insurance market in 2019, according to Shawn Hall, Sr., senior vice president, director of workers’ compensation at Breckenridge Insurance Services.
“For insureds, the market is terrific. For people in the insurance business, it’s much less terrific – to put it lightly,” said Hall. “We’re saving everyone money right now. If a client’s not saving money, there’s something going very poorly at that client’s place of work. But I do think it’s short-sighted. A lot of these rate reductions where we’re seeing double-digit decreases year over year are simply not sustainable.”
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