WC Results/Combined Ratio
Indicates insurance company’s health
If above 100:
paying more in claims & expenses than getting in premium
can still be profitable due to investment income
The combined ratio is the sum of the combined loss ratio, expense ratio and dividend ratio for a given time period. The formula is [(Loss + Loss Adjustment Expense)/Earned Premium] + [Underwriting Expenses/Written Premium] + [Dividends to Policyholders/Earned Premium].
* Calendar Yr Results - all states, NET basis (direct + assumed - ceded), private carriers; 2000-2016 Annual Statement Data, NCCI AIS 2017 State of Line Guide, p. 24
** IEE and Statutory Page 14 - DIRECT Basis
*** Calendar-Accident Year Underwriting Results - 38 NCCI states only, financial data submitted to NCCI NET basis (direct + assumed - ceded); valued as of 12/31/15; NCCI website as of 06/21/17
# Accident Yr Results - all states, private carriers Annual Statement Data Schedule P, part 1D, & IIE Part II; developed to ultimate; NCCI AIS 2017 SOL, p.33
Indiana Calendar Year
Direct basis (this is different from the country data, which is on a net basis)
From Carrier Annual Statements
Because we only collect five years of calendar year premium, we can really only accurately show the accident year combined ratios for the latest five years. We could get older evaluations from prior years' underwriting results reports, but they would not reflect our most current estimate of the accident year losses. Therefore, only the latest five years are reliable. Older years are shown for general comparison purposes only.