BOCA RATON, Fla., May 13, 2020 /PRNewswire/ -- The National Council on Compensation Insurance (NCCI) hosted its Annual Issues Symposium 2020—AIS Virtual—on May 12. Addressing the most relevant issues for the workers compensation industry for nearly 3,000 attendees, the virtual event's content is now available in the AIS Virtual Highlights Report on ncci.com. The report features a full event recap, speaker remarks, video presentations, and additional insights.
"This year's theme—A New Decade In Sight—showcased how the workers compensation system must continue to adapt to our ever-evolving world," said Bill Donnell, president and CEO of NCCI. "Even though we face unprecedented challenges, we are a resilient system. Now is the time for us to work together to ensure we will always be there to support injured workers, their families, and the employers who rely on them."
Donnell kicked off this year's event by addressing key issues for carriers, regulators, and other industry stakeholders, including key questions on the future of healthcare and industry cost trends. As is tradition at AIS, Donnell also unveiled this year's word—Vigilance—reflecting the devoted attentiveness and hard work ahead of us.
Following Donnell's opening remarks, NCCI's Chief Actuary, Donna Glenn, FCAS, MAAA, delivered the company's highly anticipated State of the Line Report, providing an exclusive review of 2019 industry results, as well as the latest workers compensation trends, cost drivers, and broad economic markers. Full details are available in NCCI's State of the Line Guide on ncci.com.
A featured guest speaker, Robert P. Hartwig, PhD, CPCU, clinical associate professor of finance at the Darla Moore School of Business at the University of South Carolina, focused on the issue that is top-of-mind for everyone: the COVID-19 pandemic. He discussed the pandemic's effect on the nation's economy and the workers compensation system, including a review of industry sector, investment market impacts, and labor market realities.
AIS Virtualconcluded with an interactive Meet the Experts session featuring Glenn and NCCI senior actuaries Jay Rosen, FCAS, MAAA, and Sean Cooper, FCAS, MAAA. This session provided an opportunity for attendees to hear from, and ask questions of, some of NCCI's leading experts on topics such as frequency and severity, the industry's loss reserve position, and potential system cost impacts due to COVID-19.
Latest Trends in Worker Demographics Barry Lipton, FCAS, MAAA, practice leader & senior actuary at NCCI delivers a review of new and updated NCCI research on worker demographics and their potential impacts to workers compensation.
Gen rX—The Next Generation of Medicine Raji Chadarevian, director, medical regulation & informatics at NCCI examines medical technology, treatments, delivery, and even how payment mechanisms are evolving—what's changing now, and what may the near future hold for workers compensation?
About NCCI Founded in 1923, the mission of the National Council on Compensation Insurance (NCCI) is to foster a healthy workers compensation system. In support of this mission, NCCI gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations. These activities—combined with a comprehensive set of tools and services—make NCCI the source you trust for workers compensation information.