WC Insurance - Trouble On The Horizon
Joe Paduda drives the nail in this one. And one has to wonder what the future may hold for the insurance organizations working in the Workers' Compensation line. We think there is much room in the niche areas, specific classes and geographic areas, especially in situations where claims are handled in a ‘new’ and 'different' way. We have demonstrated for over a decade that WC results are significantly better (up to 50% less costly) when observing a practice of humanizing the claims experience for the injured worker and their family, emphasizing face to face interactions and deemphasizing the paper-less digital malarkey that has moved WC as an insurance line to the near bottom of the producing lines. Small companies trying to do too much in too many states may learn some hard lessons… We don’t agree with everything Paduda says, but on this one we think he is spot on.