Today’s issue of WorkCompRecap features the release of a new report from Marsh that examines COVID-19’s impact on the workers’ comp market, noting that six months after COVID-19 was declared a pandemic, claims of COVID-19 exposure in the workplace have been outpaced by a decline in other types of reported occupational injuries.
The report also notes that the workers’ comp insurance market remains competitive, with average premiums having renewed between -5% and +3%, in the first half of 2020. Marsh also cautions however that employers still face sizable challenges due to the pandemic, including managing payroll and properly classifying employees as well as new presumption laws. Additionally, new tools such as telemedicine and more collaborative claims management can present opportunities.
Find out more (including a link to the free report!) by clicking here!