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June/July 2020  Volume 18, Number 3        
 

This Just In ...

According to a report by the National Council on Compensation Insurance, workers compensation losses from the COVID-19 pandemic are expected to range from $2 billion to $81 billion, depending on infection rates and number of compensable claims.

Another report just released by Willis Towers Watson speculates $16.7 billion in workers compensation losses. It also says workers comp will suffer more than any other line of insurance, even business interruption.

The report estimates each COVID-19 case will result in $35,000 medical treatment cost and $3,000 temporary disability. Death claims will average $1 million for physicians and $750,000 for other health care workers.

In its moderate scenario, the report assumed 20% of hospital-employed doctors would be infected and 12.5% of other health care workers would be infected. Total health care workers infected would be 1.1 million, with 9.5% requiring hospitalization and 9,300 dying.

Its worst-case "limited success" scenario projects a 75% infection rate for all health care workers, resulting in 7.9 million cases and 129,000 deaths.

Just to put some perspective on these numbers, as of May 13, 2022, among the TOTAL U.S. population there were 1,364,061 cases; 82,264 deaths.

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In this issue:

This Just In...

COVID-19 Workers Comp Update

Workers Comp Basics: The Four Types of Disability Benefits

Employers Liability and COVID-19

What's More Important? Reducing Frequency or Severity?

 

 


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