Flash Report: 2003 Was Turnaround Year For Incurred Claims Expenses

Just released statistics show that 2003 was the first year in nearly a decade that the industry's total incurred claims costs fell. The magic number is 11 percent lower than the year before. The data comes from the Workers' Compensation Insurance Rating Bureau of California (WCIRB). In addition, the number of insured claims filed within 18 months of 2003 policy inception declined six percent.