First-year employees, regardless of age or industry experience, represented more than a third of all compensation claims and accounted for nearly 7 million lost work days due to injury between 2016 and 2020, according to a report released Monday by Travelers Cos. Inc. .
The insurer examined more than 1.2 million claims and determined that a worker’s age and length of time in a particular role were important factors in claims frequency and cost.
The report said the industries most affected by first-year employment losses were restaurants, construction and transportation. It said workers aged 35 to 49 had the highest rate of claims compared to other age groups, but that the average cost per claim increased with age, with costs higher for employees aged 60 or older.
The most common types of injuries were overexertion, slips, trips, falls, motor vehicle accidents, and being struck by an object or caught between hazards.
Amputations made up some of the most expensive claims, costing nearly five times the average. But it is considered an extreme value, as are electric shocks and multiple trauma injuries, such as breaking several bones at once.
Rich Ives, vice president of business insurance claims for Travelers, said in a statement that it can be harder for injured workers to return to work the longer they̵
7;re out, “especially if they’re dealing with a psychosocial barrier, like fear or worry.”Source link
