Comp's 'Long Tail' Putting Insurers and Professionals at Risk, Speaker Says

AUSTIN, Texas — The "long-tail" nature of workers’ compensation has pushed Liberty Mutual and AIG to limit their exposure in comp because it’s not worth enough money, an Austin defense attorney says. Stuart Colburn of Downs Stanford warned attendees at the Insurance of Council of Texas’ Workers’ Compensation Seminar 2017 that medical advancements, inflation and new pharmaceuticals will make it even more impossible for comp carriers to predict exposure. “We won’t know the costs of these things 30 years from now or 20 or 10. Did...