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WCIRB calls the experience evaluation COVID claims a financial incentive for security



Including the cost of claims for covid-19 in California should serve as a financial incentive for companies to take appropriate and necessary measures to protect their employees, representatives of the Workers’ Compensation Insurance Rating Bureau said during a public hearing on Tuesday.

“This really is in line with the spirit and purpose of empirical evaluation,” said WCIRB Vice President and Chief Actuary Dave Bellusci. “An employer who is very careful and follows the protocols will have fewer claims on covid-19 than the benchmark for their industry. They will have a lower (change in experience classification) and, all other things being equal, pay less in premiums, while an employer In the same industry that may not be as careful, not following the protocols as closely as keeping employees safe is likely to have more than the industry average and, all other things being equal, end up with a higher (experience modification) and pay more premium. ”

The Ministry of Insurance held a public hearing on Tuesday morning about WCIRB̵

7;s annual regulation notification. Representatives from the department largely focused on WCIRB’s proposal to use covid-19 claims that occurred on or after September 1 when determining employers’ experience ratings.

When the pandemic began, WCIRB recommended and the Insurance Commissioner approved, excluding COVID-19 claims from experience changes.

Mr Bellusci said it was a “very different world” at the time. There were no assumptions that could help determine if an infection was work-related, there were no vaccines, there was no clear understanding of how the virus was transmitted and there was a lack of personal protective equipment during the first months.

The presumptions for compensation for covid-19 claims assumed in 2020 will fall at the end of the year. AB 1751, under consideration by the parish’s appropriations committee, would extend the presumptions until 1 January 2025.

WorkCompCentral is a sister magazine to Business Insurance. More stories here.


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