NCCI Releases Multi-Bureau Collaborative Report on COVID-19 Claims Characteristics and Trends

BOCA RATON, Fla., Dec. 15, 2021 /PRNewswire/ -- The National Council on Compensation Insurance (NCCI), in collaboration with a number of other workers compensation rating bureaus, has released a comprehensive analysis on COVID-19 data.

To better understand the pandemic's impact on the workers compensation (WC) industry, a cross-bureau collaborative effort was made to analyze COVID-19 claims characteristics, including representation from the following WC bureaus: California, Delaware, Indiana, Michigan, Minnesota, New Jersey, North Carolina, Pennsylvania, Wisconsin, and NCCI. The analysis does not include experience from self-insured employers or denial and expense-only claims.

Claim and loss activity during 2020 as of year-end 2020 varies across jurisdictions, indicative of how the pandemic impacted individual states differently and at varying times. The early evaluation of the emergence of COVID-19 claims includes many uncertainties.

Key findings in the study include:

• For the 45 states included in this analysis, COVID-19 claims represent 11.0% of total claims counts and 3.5% of incurred losses.
• Indemnity-only claims emerged as a significant share of reported COVID-19 claims.
• In aggregate, COVID-19 claims that remained open have relatively higher case reserves due to the uncertainty of COVID-19 infections, later than average accident dates, and timing of the various waves of the pandemic.
• COVID-19 indemnity claims closed more quickly than non-COVID-19 indemnity claims, partly driven by the large share of indemnity-only claims.
• Despite the higher closure rate, the ratio of paid to paid + case losses on COVID-19 claims is lower when compared with that for non-COVID-19 claims.

Read the full report to learn more.

Research forum webinar:

Join several Independent Bureaus and NCCI for an engaging and enlightening webinar to better understand how COVID-19 has impacted the American workforce since March 2020. During this discussion, you'll learn about the multi-bureau collaboration on COVID-19 claims data that offers a more comprehensive view of COVID-19 claim characteristics and trends. The webinar is available at no cost and open to everyone.

Thursday, January 20, 2022, at 2:30 p.m. ET (11:30 a.m. PT)

Register now.

About NCCI

Founded in 1923, the mission of the National Council on Compensation Insurance (NCCI) is to foster a healthy workers compensation system. In support of this mission, NCCI gathers data, analyzes industry trends, and provides objective insurance rate and loss cost recommendations. These activities—combined with a comprehensive set of tools and services—make NCCI the source you trust for workers compensation information.

Media Contact:
Cristine Pike
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561-893-3631 

SOURCE NCCI