Milliman: 40% of Retail Cost of Risk Due to Workers' Comp

The average cost of risk for U.S. retailers this year is projected at $5.93 per $1,000 of sales, with 40% attributable to workers’ compensation costs, according to a report released Tuesday by Milliman Inc. The report found that customer injuries represent around 20% of the total cost of risk for retailers. Other risks, including property damage, cyber and miscellaneous liabilities, make up the remaining 40%. More than 55,000 workplace injuries are expected each month of this year among the 15.7 million employees in the retail sector, according to Milliman, an actuarial and consulting ...