The Workers Compensation Research Institute report on long COVID’s impact on work comp examined claims with an average of 18 months post-infection.
My takeaways include:
Risk and Insurance weighed in on “social inflation,” a not-well-defined term insurance folks use to characterize their not-very-well-founded belief that society is driving up casualty claim costs.
Very briefly, insurance execs complain that high jury awards to claimants are driving up insurance costs. However, there’s precious little real research supporting that view.
This is from Ken Klein’s presentation to the National Association of Insurance Commissioners in 2022:
What does this mean for you?
Stop catastrophizing until you can prove something exists. Start catastrophizing when the data is convincing.
Joseph Paduda is co-owner of CompPharma, a consulting firm focused on improving pharmacy programs in workers’ compensation. This column is republished with his permission from his Managed Care Matters blog.