claim frequency News

NCCI: Work Comp Claim Frequency Dipped During Height of Pandemic

The COVID-19 pandemic corresponded with an unusual decrease in workers’ compensation claim severity, while claim frequency was pretty much unchanged, according to a report released Wednesday by the National Council on Compensation Insurance. NCCI said average claim severity for lost-time …

ADAS Reduces Loss Costs For Auto Insurers Despite Increased Repair Costs, LexisNexis Says

Advanced driver assistance systems result in fewer claims and reduce insurers loss costs by up to 23%, according to a paper by LexisNexis Risk Solutions. John Kanet, director of auto insurance for LexisNexis, said the research shows ADAS has “a …

Cyber Claim Frequency Growing; Smaller Organizations Targeted

The share of policyholders who filed a cyberattack claim jumped by 50% from the first half of 2020 compared to the first half of 2021, according to a new report by cyber insurer Coalition. An increasing number of attacks were …

Legal Malpractice Claims Frequency Reaches Plateau After Year of Record Payouts

Legal malpractice claims frequency leveled off in 2020, after two years of record payouts and total costs that approached $1 billion, according to a survey by Ames & Gough. The national brokerage, based in McLean, Virginia, said nine out of …

Traffic Returning to Roadways, But Claims Patterns May Shift Permanently

The number of cars on US roadways is returning to normal as states ease COVID-19 restrictions, but that doesn’t necessarily mean claims frequency and severity will return to historic patterns. Metromile, a San Francisco-based pay-as-you-go auto insurer, expects a permanent …

Hospital Costs Rising Even Though Claimants Avoiding Emergency Rooms

Auto casualty claimants are avoiding hospital emergency rooms during the COVID-19 pandemic but are generating increased hospital charges anyway, according to a new report by Mitchell, a San Diego-based claims administrator. “Anecdotally, we have heard that some people have been …

Claims Slowdown Gives Insurers Chance to Enhance Digital Experience

Customer use of digital interactions in the claims process has increased 18% since 2017 and the vast majority of policyholders are pleased with the process, J.D. Power said in its first U.S. Claims Digital Experience Study. “Personal interaction continues to …

Vehicle Accidents an Exception Amid Declining Number of Work Injuries

While the frequency of workers’ compensation claims has continued a decades-long decline, the number of work injuries caused by motor vehicle accidents has continued a steady increase that began in 2011, according to a new report by the National Council …

Injury Rates Still Dropping Even as Older Workers Take Larger Share of Workforce

The number of workplace injury claims continues to decline year after year despite significant changes in workforce demographics that one might think should increase claims frequency, according to a report released Monday by the National Council of Compensation Insurance. The …

California Hospital Workers’ Comp Benchmarking Report

Workers’ compensation claim severity continues to increase, while claims frequency declines, according the latest California hospital report benchmarking workers’ comp costs by Milliman and Keenan Healthcare. Data from 35 facilities (hospital systems and individual facilities) within California was aggregated to …