Sedgwick Institute Releases New Book Depicting the Future of Workers' Compensation
Wednesday, December 11, 2019 | 1302 | 0
Memphis, TN, December 11, 2019 - Sedgwick, a leading global provider of technology-enabled risk, benefits and integrated business solutions, today announced the release of "SCENARIOS FOR THE 2030s: Threats and Opportunities for Workers' Compensation Systems," a book authored by Dr. Richard A. Victor of the Sedgwick Institute. The Sedgwick Institute is an incubator for thought leaders to advance the conversations that affect productivity and the claims management industry.
In this first of its kind book, Victor, a senior fellow at the Sedgwick Institute, is focused on the challenges facing U.S. employers, injured workers, lawmakers and practitioners of occupational medicine. In it, he discusses the importance of workers' compensation systems and how their longevity was accomplished despite social and economic changes, technological revolutions, and periods of wartime and prosperity.
One of the central concerns about 2030 discussed in the book revolves around the notion that workers' compensation costs could triple from 2016, with no real change in benefits to injured workers. The author observes that both employers and worker advocates agree that the systems could be seriously out of balance, despite multiple attempts at workers' compensation legislative and regulatory reforms.
"I am very fortunate that the Sedgwick Institute supported this work. It provides an opportunity to provoke system stakeholders to think outside the box about upcoming challenges to be faced by a critical part of our nation's social safety net," said Victor.
Christopher E. Mandel, director of the Sedgwick Institute and senior vice president of strategic solutions for Sedgwick said, "With more than 30 years of experience in insurance and large global corporate risk management, I am pleased to have the Sedgwick Institute stand behind a book that truly shines a light on the complexity and importance of the industry and the challenges that it faces."
The book's main goal is to help employers, insurance providers, insurance regulators, adjudicators, workers' compensation administrators, worker advocates and healthcare providers navigate the threats and consider opportunities and solutions that could mitigate negative trends and lay the foundation for a more sound system in the future. It brilliantly aligns with the overarching goal of the Sedgwick Institute to examine complex challenges facing the various stakeholders in the space and outline innovative options and solutions to improve public and private decision making on these issues.
For more information on "SCENARIOS FOR THE 2030s: Threats and Opportunities for Workers' Compensation Systems," click here.
About Sedgwick:
Sedgwick is a leading global provider of technology-enabled risk, benefits and integrated business solutions. The company provides a broad range of resources tailored to clients' specific needs in casualty, property, marine, benefits and other lines. At Sedgwick, caring counts*; through the dedication and expertise of nearly 27,000 colleagues across 65 countries, the company takes care of people and organizations by mitigating and reducing risks and losses, promoting health and productivity, protecting brand reputations, and containing costs that can impact the bottom line. Sedgwick's majority shareholder is The Carlyle Group; Stone Point Capital LLC, Caisse de dépôt et placement du Québec (CDPQ), Onex and other management investors are minority shareholders. For more, see www.sedgwick.com.
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