National Council on Compensation Insurance News

NCCI: Almost One Quarter of COVID Claimants Suffer Prolonged Symptoms

Nearly a quarter of workers’ compensation claimants who were treated for COVID-19 experienced persistent symptoms or a relapse months later, according to a new study by the National Council on Compensation Insurance. The researchers found workers who were hospitalized for …

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 …

NCCI: Workers’ Comp Reserve Redundancy Reaches $14 Billion

Workers’ compensation insurers continue to stow away more money than necessary in reserves, even as reported loss ratios continue to climb, according to a report released Wednesday by the National Council on Compensation Insurance. Coincidentally, also on Wednesday, A.M. Best …

NCCI: Workers’ Comp Line Thrives Despite COVID-19

The workers’ compensation line powered through the COVID-19 pandemic last year, generating an average profit of 24% while carriers built up $14 billion in “redundant reserves,” the National Council on Compensation Insurance said Tuesday during its virtual Annual Issues Symposium. …

NCCI Says Fewer Miles Driven During Pandemic Means Fewer Comp Claims

The COVID-19 pandemic comes with one bright spot for workers’ compensation insurers: Fewer workers are being injured in motor vehicle accidents. A research brief issued by the National Council on Compensation Insurance last week projects that workers’ compensation claims caused …

Amazon Injuries Risk State Backlash, Higher Workers’ Comp Costs

Injuries in Amazon.com Inc. warehouses could damage more than just the company’s reputation. They could start to hurt the e-commerce giant’s bottom line, as well. Washington state’s workplace safety regulator says workers in Amazon’s highly automated warehouses are injured at …

NCCI Says 2% of COVID-19 Work Comp Claims May Result in Permanent Disability

If COVID-19 behaves like other workers’ compensation lung and disease claims, about two out of 100 cases may result in some degree of permanent partial disability and one out of 2,000 may result in permanent total disability, according to a …

Report Shows Insurers Recognizing ‘Mega’ Claims More Quickly

The share of “mega” workers’ compensation claims — those expected to cost $3 million or more — climbed steadily since 2013 after dropping as construction employment declined sharply during the Great Recession, according to a report by the National Council …

Economist Says COVID-19 Likely to Strip Profits Out of Work Comp

The workers’ compensation line is unlikely to generate a profit this year and may not recover in 2021, an insurance industry economist said during a webcast Thursday. Steven N. Weisbart, senior vice president and chief economist for the Insurance Information …

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 …