It comes as no surprise to employees or business owners that healthcare costs are on the rise. Many have felt the pinch of premium increases, higher deductibles, and soaring prescription drug prices. Unfortunately, those changes also serve to increase the total cost of Workers’ Compensation (WC) claims, making mitigating WC claim costs and controlling losses a primary concern for companies as claims get pricier and severity increases (source 2).

Risk isn't static. Strategies that worked well in the past may no longer fit an organization's evolving risk profile. That's particularly true for workers' compensation. Claims costs continue to rise, driven by medical inflation and legal and social trends. Today, businesses and municipalities that have long self-insured their workers' compensation programs face challenges obtaining excess coverage at their planned levels, exposing them to bigger claims. An innovative program can bridge those gaps and stem growing financial exposures as long-tail claims develop over time. Working with a specialist with deep knowledge of the markets and access to these special programs can help build an effective workers' compensation program that protects employees and the organization.

The global community is more interconnected than ever before. Widespread travel and business relations requiring international supply chains make pandemics a more likely threat.

Originating in Wuhan, China, the Covid-19 virus has now been diagnosed in more than 111,000 people worldwide and resulted in over 3,800 deaths.^7,8 The first U.S. case of COVID-19 was reported on January 21st, and that number has grown to 566+ U.S. infections resulting in over 20 deaths, so far.^4,8 As we watch the coronavirus begin to touch communities across the country many are naturally wondering who is at risk and how to prepare.