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As 2023 draws to a close and companies begin to settle on the wages and hikes for the next year, the question of how to create an equitable compensationsystem might flash in everyone’s mind—if briefly. The Mercer QuickPulse US Compensation Planning Survey of August 2023 found that employers are planning a 3.9
“The Division didn’t follow through on most of what it said it would do,” said Kevin Walsh, Acting State Comptroller. As of now, the risk of fraud, waste, and abuse in New Jersey’s workers’ compensationsystem remains unacceptably high.”
The apparent rise in mental disability claims is a significant issue for disability insurers and workers’ compensationsystems. The observed rise in workers’ compensation claims for mental injury must be interpreted in context. WorkSafeBC is the exclusive insurer for workers’ compensation in British Columbia, Canada.
As this holiday season approaches, employers, insurance companies, and employees will be facing what may be the biggest COVID challenges of the year. Medical delivery in most industrialized countries operates under a single-payer or unified system. Work has changed dramatically to remote and non-industrial in many instances.
The “Unknown” occupational disease risk in workers’ compensation When workers’ compensationsystems started a century ago, the focus was “industrial accidents”. page U47] Over time, most workers’ compensationsystems adapted to include coverage for occupational diseases. This limitation was noted at the time.
Requiring employers provide financial compensation to workers or their families for work-related injury, illness and death is central to achieving this objective. In exclusive state fund jurisdictions, the sole insurer must insurer all employers requiring (or qualified to opt in to) coverage.
The report has been criticized as coming from the perspective perhaps of too many academics, only large employers (2), lawyers (45% of Commissioners), and the usual higher learning institutions. Some have criticized that no service sector or professional employers were involved. WalMart was just a decade old in 1972, with 51 stores.
With the challenges emerging, the public steps announced in some jurisdictions may provide insight into what lies ahead for those who work in and with workers’ compensation. For workers’ compensation insurers, there are additional complications in their day-to-day operations.
Workplaces are now primed for a massive wave of compensation claims due to the Omicron variant. A recent study provides a potential opportunity for employers and insurance companies to reduce their risk exposure through early sequencing and treatment proactively.
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