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Podcast

Risk in context podcast: How COVID-19 has affected workers’ compensation so far

In this episode of Marsh’s Risk in Context podcast, Christine Williams and Dennis Tierney of Marsh’s Workers’ Compensation Center of Excellence discuss how COVID-19 is shaping the workers’ compensation line and best practices for employers as the pandemic continues.

11/09/2021

Among the pandemic’s many effects on businesses are unique workers’ compensation challenges for employers.

In this episode of Marsh’s Risk in Context podcast, Christine Williams and Dennis Tierney of Marsh’s Workers’ Compensation Center of Excellence discuss how COVID-19 is shaping the workers’ compensation line and best practices for employers as the pandemic continues.

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Key takeaways

Despite early projections that COVID-19 would cost employers billions of dollars in added losses, the workers’ compensation line remains healthy.

Moreover, roughly 1% of claims account for approximately 60% of total losses, which have largely been limited to a handful of industries.

“Long COVID” represents a potentially significant long-term threat for employers.

Although many employees who have filed COVID-19 claims have had relatively mild initial illnesses and have returned to work relatively quickly, the potential for new or recurring symptoms remains.

Given continuing uncertainty about the pandemic, employers must remain vigilant in managing workers’ compensation risks.

Injury prevention; communication, education, and transparency when interacting with injured employees; and a focus on remote workers are particularly important.

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