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“Mega” workers compensation claims from the construction sector comprised approximately 40% of large claims from 2001 to 2017, yet made up 20% of indemnity claims, according to research released Tuesday by six ratings agencies including the National Council on Compensation Insurance and the Workers’ Compensation Insurance Rating Bureau of California. Researchers analyzed comp claims that surpass $3 million in costs,…

Payments for outpatient facility services in workers compensation drove up the cost of medical payments per claim by 6.6% from 2014 through 2018, according to a report issued Thursday by the National Council for Compensation Insurance. Overall, the cost of medical payments per claim rose 7.5% during that period, NCCI reported. Comprising approximately one-fifth of medical costs, hospital outpatient payments…

More than one-third of states have accepted COVID-19 as an occupational illness for certain professionals, according to a report released Wednesday by the National Council on Compensation Insurance. Overall, 19 states have made changes to workers compensation compensability amid the pandemic, according to the Boca Raton, Florida-based ratings agency. Eleven states have issued executive orders, directives or emergency rules on…

The coronavirus pandemic dealt a relatively modest $2.5 billion blow to five insurers with large U.S. operations in the second quarter - a cost that was far less than feared and which the industry has absorbed without touching capital, analysts said. American International Group Inc. and Chubb Ltd. said payouts on claims related to the disease accounted for most of…