Medical Advancements May Mean More Mega Claims

Advances in technology are helping catastrophically injured workers survive and live longer than in years past, while also adding to claim costs for the most severe injuries. The topic was spotlighted in two presentations during the National Council on Compensation Insurance’s Annual Issues Symposium in Orlando, Florida, last week. Barry Lipton, NCCI practice leader and senior actuary, showed data indicating that only a handful of claims each year exceed $10 million in costs at two years post-injury. That number seemed to spike for accident years 2006 and 2007, and then fell and ...