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Insurers hire Crawford & Company to investigate losses, assess claims and help resolve them rather than do all that work themselves. Businesses that bear their own insurance risks also pay Crawford to manage claims. It typically charges a fee per claim, so the flow of cases referred by clients is central to revenue.
Most revenue comes from loss adjusting in North America and overseas, together with Broadspire’s claims and medical management services. Broadspire handles matters such as workplace injury and disability claims, reviews medical bills and coordinates treatment and rehabilitation. A smaller business, Contractor Connection, connects insurers and consumers with repair contractors and earns a fee for each project sold by its contractors.
Demand depends on how many claims arise and how much work clients outsource. Weather and disasters affect property claims, while employment and workplace injuries influence other case volumes. No customer dominates company-wide revenue, but Platform Solutions, which includes Contractor Connection, relies on a small number of significant customers. Handling personal information across borders also subjects Crawford’s international services to data-transfer rules that constrain how it moves that information.
The risk section is the longest, dullest part of the filing. This keeps only what can really hurt you: where it hits, how hard, when it plays out.
Every company claims an edge. Each one is checked against hard numbers like margins and returns: which hold, and which line gives way first.
Crawford’s results hinge on insurers’ and self-insured employers’ outsourcing decisions and claim referrals, while weather disasters and workplace injuries drive demand beyond the casualty-services overlap shown here.
CorVel competes with Crawford’s Broadspire for insurers’ and self-insured employers’ spending on workers’ compensation claims handling, medical bill review and management of claimants’ treatment and rehabilitation. Watch CorVel’s bundled claims-management programs for self-insured employers: they cover several of the services those customers can buy from Broadspire.
Arthur J. Gallagher & Co. competes with Crawford for fees from self-insured organizations that outsource property and casualty claim settlement and administration. Its risk management segment is the business to watch, rather than brokerage, which helps clients arrange insurance: risk management generated about 13% of Gallagher’s revenue in 2025, versus about 87% from brokerage.
Fed Interest Rate Decision
Crawford & Co. handles claims for insurers and self-insured clients, while its $189 million of variable-rate borrowing means higher interest rates can raise what it pays to lenders and reduce earnings.
Expected4.0%Last release4.0%
If it comes in above expectations
Higher rates can increase interest expense on Crawford & Co.'s variable-rate debt, leaving less earnings after interest; the effect depends on how the debt reprices.
If it comes in below expectations
Lower rates can reduce interest expense as Crawford & Co.'s variable-rate debt reprices, leaving more earnings after interest.
Crawford & Company earningsThis company
Crawford earns fees for handling claims and managing claims programs, and its report will show whether growth in some services can offset weakness in others.
Read revenue and operating earnings across the four segments: Broadspire’s claims and medical management, International Operations, North America Loss Adjusting and Platform Solutions. If revenue and operating earnings rise together, more work is translating into profit; if revenue rises but operating earnings lag, costs or the mix of work are eating into the gain. If Broadspire and International Operations cannot offset declines in North America Loss Adjusting and Platform Solutions, Crawford remains exposed to claim volumes and weather-related work.
Corvel Corp earningsCRVL
CorVel Corp’s report will show demand for bundled workers’ compensation claims services, where it competes with Crawford’s Broadspire for insurers’ and self-insured employers’ spending.
Read CorVel Corp’s results for its bundled workers’ compensation services, including claims handling, medical bill review and care management, alongside Crawford’s Broadspire claims- and medical-management revenue. Strength in CorVel Corp’s related services would suggest customers are placing more workers’ compensation work with outside providers, giving Crawford more work to compete for; weakness would point to softer demand and a harder path for Broadspire to grow.
Non Farm Payrolls (Oct)
The monthly jobs report tracks changes in the number of jobs, and Crawford & Co. says employment levels affect claim volumes; more or fewer claims can change the per-claim fees it earns from insurers and self-insured clients.
If payrolls show stronger job growth, Crawford & Co. could see more workplace-injury claims and related per-claim fees; weaker job growth could mean fewer such claims and less fee revenue. Employment is only one influence on claim volume.
