Navigating COVID in the World of Work Comp

October 13, 2021 • Missouri Employers Mutual

COVID has impacted everyone and every type of business — but those impacts can be felt differently depending on who you are. The workers compensation industry is no exception. When it comes to work comp, navigating those impacts and making business decisions accordingly can seem daunting.

Our experts at MEM want to help you answer those questions and ensure you have the right information to help you be confident at work.

Watch below as Roger Walleck, MEM’s VP and Chief Underwriting Officer, discusses some common questions regarding how COVID has impacted work comp.

How has COVID impacted the insurance carriers?

Many of the regulations surrounding coverage of COVID related work comp claims were influenced in part by political decisions. Workers compensation carriers were faced with many challenges like understanding what emergency declarations might mean for businesses and the work comp industry.

Insurance carriers, like MEM, were faced with many unknowns including how many COVID claims to expect and how serious they might be. It was discovered that while there were a lot of claims, many of them were report only. However, the ones that did have a medical component, are still being monitored as medical professionals still aren’t sure what the long-term impacts of COVID might be.

How has COVID impacted work comp for employers?

The National Council on Compensation Insurance (NCCI) decided that all COVID related claims will be excluded from an employer’s experience modification (e-mod). This means that if a claim is COVID related, it won’t factor into calculations determining a business’s workers compensation premium. However, to help cover the cost of these claims, carriers are creating catastrophe funds which will have a very minimal additional charge related to payroll.

COVID claims can be complex. MEM has developed a systematic and consistent approach in how we treat COVID related work comp claims. We want agents and policyholders to have confidence knowing that all claims will be handled the same.

Looking for other COVID related resources?

Check out more from MEM:

5 Things the Pandemic Taught Us
COVID-19 FAQs for Policyholders and Producers
Caution Fatigue During COVID-19
COVID-19 Resources for Employers

October 13, 2021
Missouri Employers Mutual
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