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The workers’ compensation sector of the commercial insurance industry is generally a stable and profitable segment. However, the claims in this market have become costlier, with concerns over severity on the rise. While the frequency of claims has declined, several factors contribute to increasing claim expenses.
According to a survey by the National Council on Compensation Insurance, the top concerns for the workers’ compensation sector are the changing workforce and rising medical costs resulting from medical inflation, treatment innovations and hospital consolidations. Further complicating the issue, different states have varying reasons for increases. The Workers’ Compensation Research Institute found a steady rise in lost-time claims for most states, and states without fee schedules are seeing a steeper climb in these claims.
The Changing Workforce
In 2021, 23% of the U.S. workforce was older than 55, and most experts agree the aging workforce is a prominent cause of workers’ compensation increases. Workers 55 and over account for over one fifth of lost-time injuries and 31% of the costs. Older workers are also more likely to have comorbidities, such as diabetes, heart disease or mental health issues, resulting in a slower healing process, more complex and expensive treatments, and a longer time away from work than younger workers.
Still, younger workforces can also lead to expensive claims. As more employers experience labor shortages, they may take on less experienced staff, whose lack of expertise can make them more susceptible to injury. Industries impacted by the labor shortage, such as construction and manufacturing, may see severe injuries increase, including falls from heights, burns or machinery- or driving-related accidents.
Medical Inflation
Medical inflation has also resulted in an increased cost per claim. According to Rising Medical Solutions, medical inflation bumped up to 6.6% in 2021 for workers’ compensation, up from the three-year average of 6.4%. In addition, mergers between medical facilities and consolidations of physicians’ practices are driving up costs. As the number of facilities decreases, their bargaining power increases, leading to increased costs. Improvements to technology have also increased claim costs; since the equipment is more expensive, so is the treatment.
After a hurricane hits, it’s important that you keep your safety in mind before you begin assessing the damage that was done to your property. Pay attention to local officials for information and special instructions. Once confirmed that it is safe to return to your home, keep the following in mind as you begin the recovery process.
Upon return, it is important to survey the property for damage. Do not turn on electrical power until you have inspected the property and evaluated all possible risks. Check for damage inside and outside the property, and document any property damage with photographs, inclusive of your contents. Keep a journal of these damages and report them to your insurance company as soon as you can. Provide a general description of the damage and have your policy number handy if possible.
If your home has sustained damage, it is never a good idea to repair it yourself. However, there are a few things you can do until a professional is able to fix the problem. Remember, do not proceed with permanent repairs or remove debris until the insurance adjuster has had the opportunity to inspect the resulting damages. Save all of your receipts as the insurance company will ask for them at a later date.
For decades, Gulfshore Insurance has helped our clients manage the aftermath of devastating hurricanes. We have taken extra steps to ensure we will be there for you following a hurricane or other natural disaster.
More than 912,000 people in the U.S. are employed as landscapers or groundskeepers. Landscaping is a dangerous profession. Heat, power tools, sharp instruments, and repetitive work can all lead to painful and sometimes debilitating workplace injuries. Here are some things you need to keep in mind during the busy summer season.
Common injuries for landscapers include cuts, punctures, and amputations. Power equipment like mowers, blowers, trimmers, cutting blades, trenchers, and tillers have rotating and cutting parts that can cause these severe injuries. Read instructions and get training on each specific model of equipment you use. It’s important that landscapers keep their tools sharp. A dull blade is far more dangerous than a sharp one because the user must exert a lot more force to get the job done. Keeping hand tools in good working order can also help protect landscapers from repetitive-stress injuries.
Before attempting to fix or clear a jam from a power tool or mower, make sure that the power supply is turned off and all the blades have stopped moving completely before you put your hands in the equipment. Inspect equipment before each use to ensure that guards and safety switches work properly – never bypass these features.
To avoid trips and falls, consider the conditions you’re working in. Grass clippings, wet spots, bad lighting, chemical spills, and electrical cords or hoses on paths are all things that can lead to slip and trip injuries. Preventing injuries can be as simple as paying close attention to conditions and putting equipment back where it belongs.
Use personal protective equipment (PPE) and proper clothing on the job. Sturdy work boots protect your feet from heavy equipment, cutting blades, and dropped landscape materials. Gloves protect your hands from blisters, splinters, scratches, cuts, and punctures from tools, rough landscaping materials, and plants. Safety glasses and/or face shields that are impact resistant protect your eyes from flying objects and chemicals. Use UV protective lenses outdoors. Ear plugs or earmuffs protect your hearing from loud equipment.
Clothing in a high-visibility color makes you more visible to traffic in roads, parking lots, and your coworkers. Do not wear loose-fitting or torn clothing that may become entangled in moving equipment. Wear lightweight long pants and long-sleeved shirts to help protect against both ultraviolet radiation (UV), and ticks or other insects. Know the first aid for bug and snake bites, watch these areas for infection, and get follow-up medical care when needed. Wear a wide brim hat that covers your ears and protects your nose and neck from the sun and bugs. Apply insect repellant and sunscreen to exposed areas of skin.
Be aware of expected weather conditions for the day, and plan accordingly. Have plans about where to go if severe weather hits. Know where to seek shelter in a thunderstorm, such as fully enclosed metal vehicles, with windows up or a building (not sheds).
With the materials and equipment that are part of their jobs, landscape workers are exposed to various safety accidents every day. Many of these accidents can lead injuries that in turn result in lifelong disabilities. However, by following the proper protocols, landscape worker safety can easily and effectively be maintained.
Each year, OSHA tracks the top 10 workplace safety standards violations which can lead to workers’ comp claims. For the 2021 fiscal year (Oct. 1, 2020, through Aug. 31, 2021), OSHA reported the most common violations, as published by the National Safety Council.
It is important for employers to review work processes in light of the top safety violations to determine the hazards in their workplace. The top ways for employers to avoid safety issues are job hazard analyses, employees’ reporting of hazards and unsafe conditions, and employee training. Frequent safety training and customized risk management programs can support operational business goals while reducing risk and making the workplace safer.