BOCA RATON, Fla. and NEW YORK, July 15, 2020 /PRNewswire/ -- As the COVID-19 pandemic continues to affect the nation, a number of questions remain. For the workers compensation industry, one question has to do with coverage for occupational groups such as healthcare workers and first responders who may have a higher probability for exposure. The need for informed decision making has never been greater.
The National Council on Compensation Insurance (NCCI) and the Insurance Information Institute (Triple-I) will hold an informative discussion during a live webcast on Thursday, July 23 at 2:00 p.m., ET. The focus will be on COVID-19's impact on the U.S. workforce as individual state proposals for workers compensation coverage continue to emerge.
Policymakers in some states are calling for insurers to pay workers compensation claims for individuals in certain occupations who are presumed to have contracted COVID-19 on the job.
"In the coming months and years, there will likely be many changes affecting workers driven by our efforts to cope with COVID-19 – including how work is done, where it is done, what new jobs will be created and which ones will disappear – perhaps replaced by machines or technology," said Steven Weisbart, PhD, senior vice president and chief economist, Triple-I. "This will be as challenging a time for workers compensation as we have ever had."
To help decision-makers gain insight into this evolving landscape the webcast will include a demonstration of NCCI's COVID-19 Hypothetical Scenarios Tool to address frequently asked questions about the factors that will likely drive workers compensation costs.
"There is still considerable uncertainty about the likely costs to the workers compensation system from COVID-19," said Sean Cooper, practice leader and senior actuary at NCCI. "Using assumptions for infection rates, hospitalization rates, compensability rates, and fatality rates, the tool provides a range of the potential impact from COVID-19 for individual states and certain jobs."
Click here to register for this free webcast. Registrants will receive an immediate email confirmation and calendar invitation with a link to the webinar.
Date: Thursday, July 23, 2020
Time: 2:00 p.m.–3:00 p.m. ET
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.
About Insurance Information Institute (Triple-I)
Founded in 1960, the Triple-I provides objective, fact-based information about insurance while also being a trusted source of unique, data-driven insights which inform and empower consumers. We want people to have the information they need to make educated decisions, manage risk, and appreciate the essential value of insurance. We have more than 60 insurance company members, including nine of the 10 largest writers of property/casualty insurance in the United States. Our focus is to create and to disseminate information; we neither lobby on behalf of the insurance industry nor do we sell insurance.
SOURCE Insurance Information Institute