Report Challenges Conventional Thinking on Reporting Lag, Claim Costs

Despite evidence that a delay in reporting a workplace injury of more than 12 days is associated with higher claim costs, focusing solely on reducing reporting lag times may not be the most effective strategy for containing costs, according to a new report from Lockton. In an analysis of a database of $21 billion in workers’ comp claims, the brokerage found that the lag time to reporting an injury had no statistically significant relationship with claim cost if the injury was reported within 12 days of its occurrence. After 12 days, an increase in reporting lag time was assoc...