7/22/2020 | This week in Business Insurance Workers Compensation… – Editor
As of 2020 most states have regulations on prescribing and managing opioids, but fewer than half have in place such protective measures as drug formularies and mandated drug rehabilitation, according to a report released Tuesday by the Workers’ Compensation Research Institute.
The top 5% of costliest workers compensation claims account for 25% of total physical therapy costs, with the average cost associated with that top 5% more than five times the average cost, according to a white paper released Wednesday by One Call Care Management Inc.
Health care workers and those working in protective services accounted for 83.3% of COVID-19 indemnity workers compensation claims filed in Florida as of May 31, according to a report issued Tuesday by the Florida Department of Financial Services, Division of Workers’ Compensation.
Years of profitable underwriting and healthy reserves in 2019 in the workers compensation sector will help the industry weather coronavirus-related claims and lower premium in the coming months, officials with the National Council on Compensation Insurance said Tuesday.
California saw an 11.3% drop in workers compensation independent medical review letters in 2019 when compared with 2018, according to a report issued by the California Workers’ Compensation Institute on Sunday.
The economic downturn and the slowdown of court proceedings amid the COVID-19 pandemic are boosting efforts to close older workers compensation claims, according to experts who say an uptick in settlements is on the horizon.