Many companies are often taken off guard when their workers' comp X-Mod shoots up after a merger or acquisition.
When employees are injured on the job, they are eligible for workers' compensation benefits, but not if the accident occurs on their commute to or from, in most cases, at least.
With Americans working from home more than ever before, many employers are wondering about their obligations under OSHA, as well as how to reduce the chances that workers may be injured while telecommuting.
A new law will make it easier for insurers to settle workers' compensation claims with older workers who are enrolled in Medicare, in an attempt to resolve an issue that can sometimes drive up premiums for affected employers.
Slips, trips and falls constitute the majority of general industry accidents, cause 15% of all accidental deaths, and are second only to motor vehicles as a cause of fatalities.
Once they have paid their annual premium, many employers pay scant attention to their workers' comp policy until the renewal date starts closing in. Unfortunately, that's not the best time to attempt to control costs.
Does workers' compensation cover PTSD?
Knowing how post-traumatic stress disorder (PTSD) is defined and how your state’s work comp laws address it can help you make sure your employees get the help they need.
It’s common to think of PTSD in connection with military personnel; however, anyone who has been exposed to a traumatic experience can suffer from PTSD. Most cases of work-related PTSD come from high-risk occupations, such as police officers, firefighters, and emergency medical crews. However, any dangerous environment can bring about PTSD symptoms if an event causes psychological trauma.
Do I have Business Interruption coverage for this?
In order for the Business Interruption (Business Income) policy to trigger coverage, there has to be a “covered cause of loss.” The form of your policy provides the answer, which has, up to this point, been a resounding no. All of the commercial property company’s forms we have read have a Virus or Bacteria Exclusion, which excludes loss or damage caused by, or resulting from, any virus, bacterium, or other micro-organism that induces, or is capable of inducing, physical distress, illness, or disease.
ISO (Insurance Services Office) recently released two optional endorsements to address limited BI coverage related to the Coronavirus. In our discussions with companies, they have to file these endorsements and also be willing to utilize them. As of now, we have not seen any companies who are interested in providing these endorsements going forward.
Traffic accidents continue to be one of the leading causes of high-severity workers' comp claims, according to research.
The National Council on Compensation Insurance found in a study that the cost of workers' comp claims for accidents involving motor vehicles was 250% more than the average for all workplace accidents.
A lesson in timely claims reporting
A recent appeals decision denied coverage to a company on its directors and officers (D&O) liability insurance policies for taking too long to file the claim.
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