Today’s issue of WorkCompRecap features the announcement from Health Strategy Associates and Bickmore Actuarial that they will be hosting a free webinar examining recent theories from industry groups that COVID-19 treatment expenses and lower interest rates are bad news for workers’ comp insurers’ profits.
The webinar will note that while there are new workers’ comp costs due to COVID-19 claims, they don’t present as much of an expense, and insurers are not suffering greatly from that side. More important to focus on will be the decline in premiums, claim counts, and costs as the economy faces the pandemic’s damage and 30 million unemployed. HSA also noted that respondents to its COVID-19 impact survey predicted that there will be 20% fewer new injury claims in 2020 than in 2019.
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