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Indian River County Board of County Commissioners 00# Gallagher <br />'' •+CORE 360- <br />• As the labor market tightens, claim frequency will likely rise as less experienced workers enter the <br />workforce. <br />• We will likely see an increase in severity as rising medical costs will negatively impact Workers' <br />Compensation claims. <br />• Wage inflation may result in increased premiums in Workers' Compensation. The rise in wages (and <br />corresponding rise in premiums) could help offset the likely increase in claim frequency and severity. <br />Commercial Auto <br />Where we were: 2021 <br />• Frequency of claims associated with the economic shutdown were down in 2020. Miles traveled, which <br />is highly correlated with claim frequency, rebounded in 2021.2 <br />Commercial Auto Rate Trends 2020-2021 <br />2020 2020 <br />01 02 <br />Source: Ga11:agher US. Clients <br />1 hftps://enlvte.com/sites/default/fiiles/2021 <br />2020 2020 2021 202T 2021 2,021 <br />03 04 G1 {I2 03 G4 <br />0Medan Rate Changs 0 75th Penzentfe Rate Change <br />�h c <br />6F= <br />3�?A <br />9.5& <br />8. <br />7.7% <br />71% <br />S.A <br />fn293 <br />K.1`S'n <br />2020 2020 <br />01 02 <br />Source: Ga11:agher US. Clients <br />1 hftps://enlvte.com/sites/default/fiiles/2021 <br />2020 2020 2021 202T 2021 2,021 <br />03 04 G1 {I2 03 G4 <br />0Medan Rate Changs 0 75th Penzentfe Rate Change <br />