California workers’ compensation insurers’ average return on net worth increased for the second year in a row in 2011, according to the latest National Association of Insurance Commissioners report on insurer profitability.
The report shows California insurers’ 2011 return improved from 5.2 percent in 2010 to 7.4 percent in 2011, making California 15th out of the 46 states that operate without a monopolistic state fund.
The NAIC represents insurance commissioners from all 50 states, the District of Columbia, and four U.S. territories.
California’s 10-year average for workers’ comp insurers is 7.1 percent. For all lines in the state it’s 9.8 percent, according to the report. The report shows the U.S. average for workers’ comp insurers was 6.7 percent, while the average for all lines was 7.7 percent.
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