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'Mega Claims' Up, but Insurers Apparently Getting Better at Early Identification

By Mark Powell (Reporter)

Monday, September 14, 2020 | 922 | 0 | 63 min read

The number of workers’ compensation claims that pay out at least $3 million has risen, but the insurance industry appears to be getting better at identifying claims before they grow out of control, according to a group of actuaries that published a study on so-called "mega claims" last month. “We are seeing some signs of a speed-up in recognition,” said Dave Bellusci, executive vice president and chief actuary for the Workers’ Compensation Insurance Rating Bureau of California. “And, potentially, some of the analytics that insurers are using to iden...

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