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Delaware’s Workers’ Compensation Claims Cost Grew 3% a Year: WCRI

Insurance Journal

The average cost of workerscompensation claims in Delaware, for cases with more than seven days of lost work, went up by 3% per year between 2019 and 2022, according to a new study from the Workers Compensation Research Institute …

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Court Must Decide If Child Victims Act Revives Old Workers’ Compensation Claims

Insurance Journal

Did New York lawmakers intend the Child Victims Act (CVA) that revived old claims of sexual abuse to apply to claims by employees that would previously have been handled by the workerscompensation system? It’s the responsibility of the state’s …

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Student-on-Employee Workers’ Compensation Assault Claims Drop: Gallagher Basset

Insurance Journal

The number of workerscompensation claims for student-on-school-employee assault dropped significantly during the 2023-24 school year, according to data from Gallagher Basset. This change comes after two years of increasing claims following the 2020-21 school year. Citing client numbers covering …

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Two Main Reasons Why Workers’ Compensation Costs Skyrocket

AMAXX

One of the most significant challenges for employers today is managing the rising costs of workerscompensation claims. The price tag associated with these claims can severely impact a company’s bottom line if not controlled effectively.

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Travelers: Costliest Claims Driven by Most Common Workplace Accidents

Insurance Journal

million workers compensation claims reveals the costliest claims are driven by the most common workplace accidents, according to Travelers 2024 Injury Impact Report. Analysis of 1.2 The data also shows first-year employees are still among those most vulnerable to injury.

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2 Major Types of Transitional Duty in Workers’ Compensation

AMAXX

In the world of workerscompensation, one of the most powerful strategies for managing costs while helping injured employees return to work is the implementation of a transitional duty (TD) program. Stack is the creator of Injury Management Results (IMR) software and founder of Amaxx Workers’ Comp Training Center.

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5 Reasons Why Workers’ Compensation Reserves Are Higher Than Expected

AMAXX

In the complex world of workerscompensation, setting accurate reserves is a critical task for adjusters. Reserves are the funds set aside by an insurer to cover the future costs of a claim, including medical expenses, lost wages, and other associated costs. Is the Cost for the Claim for Life?