We have seen modest gains in the economy recently, with more people finding jobs and getting back on the payroll. This is a good thing, of course, but along with a rise in employment comes an uptick in Workers Compensation claims, especially in some industries.
According to the U.S. Bureau of Labor Statistics, the national unemployment rate in January was 8.3%, which was the lowest jobless rate since February 2009. As employees come back to the job market after months or even years out of the workplace, they’re seen as posing the same type of risk as those people who are new on the job. Chief Economist Harry Shuford at the National Council on Compensation Insurance, Inc (NCCI), the largest provider of workers compensation and employee injury data and statistics in the nation, said workers are at their greatest risk of injury during their first year with a company, regardless of whether they change positions with that firm. The risk level drops once an employee has been with a firm for five years.
Common workplace injuries* include:
- Overexertion—or injuries caused by lifting, pushing, pulling, holding and carrying— this accounts for more than 25% of the national burden
- “Falls on same level”, which ranks as the second cause of disabling injury
- “Fall to lower level”
- Injuries from bending, climbing, reaching, standing, sitting, and slipping or tripping without falling
- Struck by objects
These workplace injuries represent nearly 72% of the nation’s direct Workers Compensation costs.
As a leading Wholesaler/MGU, Platinum Program Managers & Insurance Services can help you with your customers’ Workers Compensation solutions. We specialize in providing auto dealerships and many other industries with sound, competitive programs. Give us a call at: (949) 209-0233.
*Research provided by Liberty Mutual.