Posted on 13 Jul 2012 by Neilson
Workers compensation lost-time claim frequency declined by 1% in 2011, according to a report from NCCI Holdings Inc.
In a report released Thursday, the Boca Raton, Fla.-based ratings and research agency said last year's claims data points toward possible economic recovery. Claims frequency rose 3% in 2010—the first increase in 13 years—which NCCI attributed partly to an increase in post-recession hiring.
Despite a decreasing number of claims, NCCI said the average indemnity cost per claim rose 2% last year to $22,300. Average medical cost per claim also increased 4% last year to $28,000, NCCI said.
NCCI noted that improved technology and workplace safety measures have contributed to long-term declines in workers comp claim filings.
Frequency also has declined, in part, due to an increased number of aging workers, who tend to have fewer workplace accidents, NCCI said.