Mega claims, with reported losses above $2 million ($2M), represent less than 0.1% of total workers’ compensation (WC) claims but account for over 2% of total loss dollars, in excess of $1 billion each year.
These claims typically have significant medical expenses, stemming from severe injuries with prolonged recovery and time away from work. In response to stakeholder concerns about the relative frequency of these claims, several WC rating bureaus produced a
countrywide analysis of mega claims in 2020. These same bureaus have collaborated again to conduct an updated and enhanced analysis of the trends in frequency, characteristics, loss size, and emergence of countrywide mega claims.
In this webinar, experts from NCCI and several of the bureaus that participated in this collaborative study discuss the trends in frequency, characteristics, loss size, and emergence of countrywide mega claims.
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KEY INSIGHTS AND TAKEAWAYS
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