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The following was conducted by the Hartford and published in their June 2010 Hartford Financial Services Group, Inc. Newsletter

Reporting Delays Increase Loss Costs


    A Hartford study shows a strong correlation between

the speed with which a workers’ compensation injury

is reported and the cost of the claim. Timely reporting

allows us to begin managing the claim and its costs

earlier. By quickly guiding injured workers to appropriate

medical care, we decrease their frustration

and minimize the chances of litigation. The Hartford’s

data clearly demonstrates that “lag time” (the time

between injury and first report) significantly affects

a claim’s outcome.

• Loss costs for Claims reported within one week are

8% higher than those reported on the incident day.

• Loss costs for Claims reported after one month are

37% higher than those reported on the incident day.

    The data also shows a significant link between lag

time and the likelihood a claim will be litigated.

Claims reported after one month are three times

more likely to be litigated than claims reported on

the day of an incident.

    Finally, delayed reporting of workers’ compensation

claims can result in penalties levied by the state

insurance departments. These penalties can add up

quickly and have a significant impact on an insured’s

premium. In some cases, the penalties may be

charged directly to the insured.

    Reporting claims as quickly as possible can help

lower loss costs, reduce fees, and ensure that injured

workers receive appropriate and timely medical care.

We encourage you and your clients to report claims

promptly through one of the options listed below.


Posted 11:44 AM

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