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Workers' Compensation Insurance in the US Procurement Price, Data and Insights
Workers' compensation insurance provides the injured employee with wage replacement and medical benefits. In return, the employee relinquishes the right to sue their employer for negligence. Buyers can procure workers' compensation insurance from insurance carriers or state insurance funds.
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What’s included in this market coverage
IBISWorld's research coverage on the Workers' Compensation Insurance procurement and pricing environment in the United States includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the Workers' Compensation Insurance market in the United States includes Medical Benefits, Wage Replacement, Workers' Compensation Insurance for Finance and Accounting Workers, Workers' Compensation Insurance for IT Workers, Workers' Compensation Insurance for Professional Service Workers, Workers' Compensation Insurance for Retail Workers, Workers' Compensation Insurance for Manufacturing Workers, Workers' Compensation Insurance for Maintenance, Repair, and Installation Workers and Workers' Compensation Insurance for Construction Workers. Standard coding in this coverage includes ISIC-643-Trusts, funds and similar financial entities, NACE-64.30-Trusts, Funds And Similar Financial Entities, NAICS-524129-Other direct insurance (except life, health and medical) carriers and UNSPSC-84131605-Workmens insurance.
What common market terminology is included?
Common market terminology included in the Workers' Compensation Insurance procurement coverage includes National Council on Compensation Insurance (NCCI) (A nonprofit agency that collects data on the costs of workers' compensation insurance. The NCCI issues recommendations for insurance premiums.), Presumption Laws (A state law that outlines the conditions in which an injury to a certain worker is presumed to have happened on the job and should be compensated. The burden of proof of a presumed injury in a workplace normally rests on the injured worker, although coronavirus-related regulatory changes are shifting the burden of proof to the employer.), Telemedicine (Telehealth) (The distribution of remote health services through an internet-connected device such as a computer or television.), Telenursing (The distribution of remote nursing services through an internet-connected device such as a computer or television.) and Claim (A request that a buyer or a buyer's employee makes to the insurance provider for payment under the terms of the insurance policy. A claim is triggered by a work-related injury.).
What companies are included as top suppliers?
The top companies covered in the Workers' Compensation Insurance procurement report as suppliers are American International Group, Inc., Liberty Mutual Insurance Group Inc., Amtrust Financial Services, Inc., the Hartford Financial Services Group, Inc. and the Travelers Companies, Inc..
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the Workers' Compensation Insurance market in the United States category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) $100 of payroll, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the Workers' Compensation Insurance market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting Workers' Compensation Insurance procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on Workers' Compensation Insurance market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the Workers' Compensation Insurance market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for Workers' Compensation Insurance?
The 2026 benchmark market price for Workers' Compensation Insurance is per1.32 $100 of payroll. Prices have increased at a CAGR of 0.51 from 2023-26.
Who are the top vendors in the Workers' Compensation Insurance market?
The top vendors in the Workers' Compensation Insurance market include American International Group, Inc., Liberty Mutual Insurance Group Inc., Amtrust Financial Services, Inc., the Hartford Financial Services Group, Inc. and the Travelers Companies, Inc..
What industries supply the Workers' Compensation Insurance market?
The top industries supplying the Workers' Compensation Insurance market are Commercial Leasing in the US, Real Estate Sales & Brokerage in the US, Computer & Packaged Software Wholesaling in the US, Computer Manufacturing in the US, Portfolio Management & Investment Advice in the US, Custody, Asset & Securities Services in the US, Reinsurance Carriers in the US and Insurance Brokers & Agencies in the US.
What is the supply chain risk for Workers' Compensation Insurance?
Low market share concentration increases competitive pricing and negotiation leverage for buyers. Low market share concentration in the market ensures no single vendor controls pricing, which allows buyers to benefit from vigorous competition among multiple suppliers. This dynamic gives buyers strong negotiation power to secure favorable terms and lower costs. Regularly benchmarking suppliers and encouraging competitive bidding can help buyers achieve cost savings and improved contract conditions.
What factors affect the price of Workers' Compensation Insurance?
Occupation significantly affects workers' compensation insurance pricing, as different jobs carry varying levels of risk and injury potential. For example, high-risk occupations like construction or manufacturing typically incur higher premiums due to the increased likelihood of workplace injuries compared to lower-risk jobs such as office work or remote positions, which are measured by industry classifications and claims history.
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