The workers’ compensation sector of the commercial insurance industry is generally a stable and profitable segment. However, Tennessee workers’ compensation costs of claims have been increasing, with concerns over severity on the rise. While the frequency of claims has declined, several factors contribute to increasing claim expenses.
These increases in the cost of workers’ compensation claims are primarily due to two reasons: the changing workforce and medical inflation.
Learn more in this News Brief.
If you have any questions or would like to review your workers’ compensation policy, call our Johnson City office today at (423) 292-4142. One of our commercial insurance agents would be happy to work with you.