Wolf, Baldwin & Associates, P.C.

February 2019 Archives

The good and bad news about workplace safety

The Liberty Mutual 2018 Workplace Safety Index provides a list of the most common claims it sees for injuries, but there is also some big picture information that is worth looking at as well. According to the insurance carrier, the good news from 2018 was that workplaces are slightly safer with a 1.5 percent overall reduction in serious accidents. This is tempered by some bad news, which is that the cost of serious injuries continues to rise. This year there was a 3 percent rise in cost to businesses, which added up to a total of $58 billion.

Mega claims on the rise for good reason

It was not long ago when a $10 million workers compensation claim would have been shocking. Now $40 million for a claim is nothing more than noteworthy. According to a new study by the National Council on Compensation Insurance (NCCI), there were 10 of these so-called "mega claims" of $10 million or higher in 2016, which is the most since 2001.

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