Worker’s Comp Claims

Check out this chart with statistics and gain insight into total claims spend for 2017-2019, and what the projected Worker’s Comp Premiums and Claims was for 2020.

Worker’s Compensation
2017201820192020 Projectedhttps://www.businessinsurance.com/article/20201217/NEWS08/912338589/Workers-compensation-premiums-down-13-in-2020-AM-Best-Co-COVID-19-coronaviru
Premiums (Billions)$39.8$47.4$46.0$38.6
Combined Basis89.0%83.0%85.0%86.0%https://www.workcompcentral.com/news/article/id/3f5a2bfb6dcba68bb17ca40854ae4e87cf186358
Total Claims $$35.4$39.3$39.1$33.2
Indemnity 40%$14.2$15.7$15.6$13.3
Medical 60%$21.3$23.6$23.5$19.9https://www.ncci.com/Articles/Pages/Insights-Early-Look-2020-Workers-Comp-Results.aspx
Prescription 12% of Medical$2.6$2.8$2.8$2.4
Intelaform Audit Recoupment 15%$358.5