Insurance claims increasing frequency and severity

insurance claims increasing frequency and severity
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Early claim resolution reduces expenses – be ready with a risk mitigation program

Insurance claims increasing frequency and severity underscores the importance of having a risk mitigation program in place.

The longer it takes to close a claim, the more expensive the claim becomes.  Claims closed in one year averaged close to $46,000, while claims closed in five or more years averaged approximately $240,000.

With the projected loss rate trending at +2.1% for senior living and +3.5% for long-term care, per the 2022 General and Professional Liability Benchmark Report, it is important for providers to have robust risk mitigation programs in place.

Medical record documentation is key to this process; therefore, effective and efficient management of the medical data is paramount.


CA Supreme Court backs employers in ‘take-home’ COVID case

Employers cannot be held legally or financially responsible for preventing the spread of COVID-19 from their employees to their household members, the California Supreme Court has ruled.

In a decision that could shape rulings in other states, the California court found the disease had become so ubiquitous that allowing lawsuits for relatives of all sickened workers would overwhelm both the economy and the courts.

In their ruling, the California justices referenced other cases in which a “take-home” claim was valid.


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