Study: Claims Above $1M Account for 10% of Losses; Vehicle Accidents No. 1 Cause

Motor vehicle accidents, along with slips and falls, are the cause of about half of all claims above $1 million, according to a National Council on Compensation Insurance study chronicling high-dollar payouts over the past 15 years. Claims that pay out $1 million or more account for 10% of losses, but they represent less than 0.2% of all lost-time claims, according to the study, which was released Tuesday. The figures reflect part of a long-term, overall decline in claims within the workers’ compensation system, according to the study’s authors, NCCI Executive Director Jim Davis ...