Workers’ compensation insurance can be a complicated subject, as insurance companies that administer these types of claims know. There are multiple factors that go into workers’ compensation claims, which means that examiners must be well-versed in the field to be effective at administering these claims. Furthermore, the claimant’s indemnification must be top of mind for examiners. Holding down costs is another top priority for examiners as well.
Now, there is yet another complication to take into account: COVID-19. This novel version of what is known as coronavirus has swept across the globe, infecting millions. The virus has also resulted in thousands of deaths. Unfortunately, these numbers are continuing to climb.
Beyond the tragedy of illness and death rates, the virus known as COVID-19 poses additional challenges for the workers’ compensation industry as a whole within the United States. At the moment, there is no universal guidance on whether employees who contract the virus due because of their work or office will be covered under workers’ compensation insurance.
Some states are offering coverage to certain employees while others are not. A small number of states have decided to guarantee workers’ compensation coverage, according to the Insurance Information Institute’s (III) March 17, 2020 blog titled Will Workers Comp Claims for COVID-19 Be Paid?
This variation among states represents unique challenges for examiners who are administering workers’ compensation claims. Since there is not yet an overall agreement on how or if benefits should be offered to workers who contract COVID-19, examiners face additional burdens on their time. They will need to take the time to research the rules and coverage qualification for the virus within each state that your company is licensed in.
Northwood is a third-party administrator (TPA) of workers’ compensation claims and can help lessen the administrative burdens on your examiners due to COVID-19. Northwood has a knowledgeable team that will work on your company’s behalf to administer workers’ compensation claims. This team is well-versed in the industry as a whole and also prioritizes staying up to date on the newest information regarding COVID-19 and workers’ compensation benefits for each state.
In addition, Northwood has over twenty years of experience in the workers’ compensation industry. This experience translates to improved efficiency for your company and offers assistance in helping to hold down costs associated with administering claims.