February 9, 2023
A report released this month by New York State Insurance Fund found that 31% of workers who filed claims for COVID-19 continued medical treatment or took time off work more than 60 days after the initial infection. NYSIF’s report is …
October 21, 2022
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 …
December 2, 2021
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 …
September 30, 2021
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 …
May 11, 2021
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. …
November 9, 2020
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 …
October 23, 2020
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 …
October 16, 2020
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 …
August 26, 2020
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 …
July 24, 2020
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 …