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.
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 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.
Workplace injury rates rise during the summer months. When summer rolls around, companies in many sectors, including agriculture and construction, significantly increase production.
Increased road construction raises risks for workers and drivers. Many of the newly hired workers are young and inexperienced, creating a high potential for workplace injuries.
Toiling in the sun is also a leading cause of weather-related injuries, including heatstroke, heat cramps, and heat exhaustion. Heat illnesses occur when the body overheats to the point it cannot cool off, even with sweating.
August is here, and so is Safe + Sound week. Safe + Sound week is a nationwide event held each August that recognizes the successes of workplace health and safety programs and offers information and ideas on how to keep America’s workers safe.
After an employee is injured on the job, recuperation times can vary, but every day they are away from work, the claim cost increases and productivity suffers.
Recent research shows that employers lose about 80 million work days annually due to workplace injuries or illnesses. The number of employees who remain away from work more than seven days because of injuries or illnesses stretches into the millions.
This means that employers are left to deal with the high cost of workers' compensation premiums, lost productivity and disability benefits. But, by creating a special incentive program, you can greatly reduce these costs.