Today’s issue of WorkCompRecap features NCCI’s release of a new study that examines the relationship between accident report lag and claim costs in workers compensation. NCCI noted a previous study conducted by the Hartford using its own data found that average workers’ comp claim costs generally rose as the length of delay in claim reporting increased.
The latest report from NCCI examines the relationship using industry-wide data. Key findings included that the median cost of claims reported between one day and two weeks after an accident were significantly lower than that of claims reported either on the day of the accident (Day 0) or more than two weeks after. Other notable findings included that different types of injuries had different time frames when median costs were lowest.
Find out more (including a link to the free report!) by clicking here!