Nationwide, the average cost of workers' compensation insurance has risen 50% in the last three years. This dramatic surge is due to several complex factors.In the last five years, medical costs in some states have increased 125% per claim, while indemnity benefits rose 32%. Furthermore, inefficient, manual processing continues to add millions of dollars to administrative expenses.
Equally troubling for insurers is the fact that fraud and abuse are on the rise.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access