Texas WC Agency Finds Across-the-Board Cost Improvements

• A new report from the Texas Department of Insurance’s Workers’ Compensation Research and Evaluation Group shows across-the-board cost and utilization improvements in the state’s system between 2018 and 2023.
• Overall healthcare costs decreased 14% from $997 million for services in 2018 to $857 million for services in 2023.
• While the total number of claims in the period decreased 11%, from 296,000 to 264,000,the average cost per claim also declined, 4%, from $3,367 to $3,245.
• Total hospital/institutional costs decreased 23%, from $367 million in 2018 to $281 million in 2023.
• The number of claims receiving hospital/institutional services decreased 25%, from 84,000 to 63,000.
  READ MORE

 

Ivans: Workers Comp Bucks Commercial Lines Renewal Trends

• The May 2025 results of the Ivans Index showed that average premium renewal rates increased year over year across all major commercial lines of business except Workers’ Compensation.
• Workers’ compensation saw renewal rates fall 1.87%, furthering April’s 1.78% decline.
• Rate movements in May continued the April trend, a month which also saw all lines but Workers’ Comp record year on year rate increases.
  READ MORE

 

Markel Teams With Insurate for Middle-Market Business Pursuit

• Markel Insurance is moving into the middle-market workers’ compensation sector in a collaboration with Insurate.
• The insurtech’s platform utilizes AI algorithms to analyse large datasets, providing insights into workplace safety performance, allowing for accurate risk assessment and pricing, particularly for complex industrial and service operations.
• Markel, a specialty insurer unit of Markel Group, earlier this year, outlined its focus on U.S. middle-market companies.
  READ MORE