Study: Workers' Comp Losses Growing Despite Claims Frequency Fall
National News • July 23, 2007
Strong pricing and benefits from state workers' compensation law reforms have masked an increase in workers' compensation accident-year losses that could curtail the recovery now that the market ...
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Subject: increase in costs?
Posted On: July 23, 2007, 3:38 pm CDT
Posted By: Skeptical
Comment:
While Conning & Co is a credible company, if the study is based on data supplied by carriers, then the results can not credible.
States, for example, have imposed record fines against AIG for falsifying its workers' compensation data.
New York, in looking for solutions to its high cost-low benefit workers' compensation system, specifically referred to the difficulty of making sound decisions with data that either was not available, or was corrupted.
Problems with Second Injury Funds, employer non-compliance, fraud and more - there just can't be any credible analysis of workers' compensation - it's not possible.
Subject: increase in costs?
States, for example, have imposed record fines against AIG for falsifying its workers' compensation data.
New York, in looking for solutions to its high cost-low benefit workers' compensation system, specifically referred to the difficulty of making sound decisions with data that either was not available, or was corrupted.
Problems with Second Injury Funds, employer non-compliance, fraud and more - there just can't be any credible analysis of workers' compensation - it's not possible.