Based on stakeholder feedback, NCCI is now offering a new series of industry-level trend analyses and insights using NAICS codes. We’ll look at premium share, frequency, and employment levels by industry.
By drilling down to this level, carriers can now compare their books of business with overall industry trends.
Going Deeper on the Data Sources
Economic Insights
The economic insights are based on US Bureau of Labor Statistics (BLS) data. More specifically, employment information is from its Quarterly Census of Employment and Wages (QCEW) program and hires/quits/layoffs information is from its Job Openings and Labor Turnover Survey (JOLTS).
Frequency Insights
Frequency is measured as reported, undeveloped lost-time claims at a first report per million dollars of earned premium adjusted to current wage and on-leveled to NCCI-approved pure loss cost level by state.
The data is based on NCCI’s Statistical Plan data for private carriers and state funds in all states where NCCI provides ratemaking services.* Large deductible policies are included; underground coal mine policies, F-classification experience, and COVID-19 claims are not included.
The data is summarized at the individual North American Industry Classification System (NAICS) industry level by leveraging the reported NAICS codes in NCCI’s Policy Data.
We utilize the NAICS codes instead of NCCI’s industry groups, as they more closely match the economic insights shared, and here’s why. The NAICS codes are used to categorize a business or an individual policy, while NCCI’s industry groups are a mapping of workers compensation classification codes categorized into five industry groups for our class ratemaking procedure. For example, a policy with the construction NAICS code reported in the Policy Data would be assigned to the NAICS construction code for this analysis. However, only the construction classes on the policy would go to the Contracting NCCI industry group, and the office classes (e.g., if the employer also had 8810 payroll and losses on the policy) would go to the Office and Clerical NCCI industry group.
*AK, AL, AR, AZ, CO, CT, DC, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MD, ME, MO, MS, MT, NC, NE, NH, NM, NV, OK, OR, RI, SC, SD, TN, TX, UT, VA, VT, WV
NAICS Code
|
NAICS Sector Title
|
Industry Trend Report Mapping
|
11
|
Agriculture, Forestry, Fishing and Hunting
|
All Other
|
21
|
Mining, Quarrying, and Oil and Gas Extraction
|
All Other
|
22
|
Utilities
|
All Other
|
23
|
Construction
|
Construction
|
31–33
|
Manufacturing
|
Manufacturing
|
42
|
Wholesale Trade
|
Wholesale Trade
|
44–45
|
Retail Trade
|
Retail Trade
|
48–49
|
Transportation and Warehousing
|
Transportation and Warehousing
|
51
|
Information
|
Combined Office
|
52
|
Finance and Insurance
|
Combined Office
|
53
|
Real Estate and Rental and Leasing
|
Combined Office
|
54
|
Professional, Scientific, and Technical Services
|
Combined Office
|
55
|
Management of Companies and Enterprises
|
Combined Office
|
56
|
Administrative and Support and Waste Management and Remediation Services
|
Combined Office
|
61
|
Educational Services
|
Education
|
62
|
Health Care and Social Assistance
|
Health Care
|
71
|
Arts, Entertainment, and Recreation
|
Leisure and Hospitality
|
72
|
Accommodation and Food Services
|
Leisure and Hospitality
|
81
|
Other Services (except Public Administration)
|
All Other
|
92
|
Public Administration
|
All Other
|
Looking Ahead
Contact your
Affiliate Services Executive for assistance in leveraging WorkComp Workstation to access your data.
Don’t miss
Industry-Specific Trends Uncovered, with Senior Practice Leader and Actuary Sandra Kipust, only at NCCI's
Annual Insights Symposium 2025.
This article is provided solely as a reference tool to be used for informational purposes only. The information in this article shall not be construed or interpreted as providing legal or any other advice. Use of this article for any purpose other than as set forth herein is strictly prohibited.
