Cornerstone Insurance Agency Blog
The ongoing pandemic creates a continuous set of challenges for businesses in all sorts of ways, including the sudden potential increase of occupational illnesses. The impact on systems in workers’ compensation may prove to be significant, such as surges in claims frequency and added burdens in administration for employers.
Myriad Sources of Claims
Employers should also prepare themselves for a possible claim increase due to the factors below:
Delayed Claims Resolutions
Adding to an increase in claim frequency in particular sectors, employers have the necessary preparation for pending and existing claims to be open for an extended period. Across the country, the board offices of the state’s workers’ compensation remain closed. However, there are still virtually conducted hearings, but many also risk getting postponed.
There are also limited claim resources such as field investigative services and independent medical exams.
Professionals that handle risk should also cooperate with their insurers and TPAs (third-party administrators) to develop detailed and vibrant plans to manage the potential claim increase. Despite limited resources, insurers, TPAs, and employers should exert effort together to guarantee a thorough investigation in claims.
During the health crisis, having outreach to struggling workers is crucial as ever. The process for workers’ compensation can be challenging to navigate for injured employees. Employers should consider adopting an advocacy approach to claims in workers’ compensation that prioritizes education, communication, and transparency.
At Cornerstone Insurance Agency, we do our best to ensure that our clients are well-protected with affordable and comprehensive policies. We make sure to go the extra mile to help you with your needs. To learn more about how we can help you, please contact our agency at (888) 661-8831 or Click Here to request a free quote.