Industry Experts Weigh In: Workers’ Compensation Trends for 2023
By Matt Horton, VP of Distribution
Businesses small and large will be facing new challenges and issues this year when it comes to providing workers’ compensation insurance for their employees. Here is what WorkCompWire, an online information source for workers’ comp and related issues, has to say about how certain trends could impact businesses in 2023.
Employers will have to adjust to a growing remote workforce
It is estimated that more than 26% of workers in the U.S. will be working remotely through 2023. Today, the accelerated shift to remote work has created several key challenges for businesses. WorkCompWire notes that specific issues involving ergonomic injuries and the mental health of employees working from home could increase workers’ comp claims in the coming year.
Social determinants of health may increase the need for work comp case managers
Social determinants of health (SDoH) are nonmedical factors that have become a growing issue in workers’ comp claims – influencing employee recovery time and overall health outcomes. The World Health Organization defines SDoH as “the conditions in which people are born, grow, work, live and age and the wider set of forces and systems shaping the conditions of daily life.” WorkCompWire notes that SDoH could result in an increased need (or even create a shortage) for qualified workers’ comp case managers who are specifically trained to identify and address SDoH issues, and who can help get employees back on the road to recovery.
Workplace violence will remain a leading cause of occupational injuries
According to the Occupational Safety and Health Administration, workplace violence is “any act or threat of physical violence, harassment, intimidation or other threatening disruptive behavior that occurs at the work site.” Today, workplace violence continues to be a major concern for employers and employees throughout the U.S. and is the third-leading cause of fatal occupational injuries. To help mitigate this workers’ comp issue, WorkCompWire expects more employers to utilize critical incident stress management — a “comprehensive, systematic and multifaceted approach to managing traumatic stress within an organization or a community.”
Managing an employee’s recovery amid a lagging supply chain could intensify
It’s important to the continuity of a business that injured or ill employees make a full recovery and return to work as soon as they are medically able. Continued supply chain shortages and delays are expected to hinder the availability of vital medical equipment and supplies as well as important health and support services that employees typically require as part of their wellness and recovery.
About Builders & Tradesmen’s Insurance Services Inc.
At Builders & Tradesmen’s Insurance Services Inc., we understand the important need for businesses to have easy access to the right workers’ comp insurance coverage for their employees when they need it. It’s why we’ve streamlined the workers’ comp quoting process, making it easy for businesses to compare quotes and bind coverage in a matter of minutes — not hours or days.
For additional information, visit www.btisinc.com or call (877) 649-6682