Lockton: Fear and Uncertainty Increase Claim Costs

The average lost-time claim costs 3.5 times more when words such as “fear” and “afraid” are recorded in adjuster conversations, according to a new white paper from Lockton. Claimant uncertainty is also highly related to the prevalence of attorney representation, according to Lockton, which analyzed information in its property and casualty database. The top five reasons workers’ comp claimants hire a lawyer, according to Lockton, are not receiving payment or not receiving it on time; dislike of their doctor; fear of losing their job; feeling that the process...