2021 Focus Series Press Release: Presumptions and the Future of Workers’ Compensation Insurance 2021
Conning is Pleased to Announce its Newest Focus Series-
Presumptions and the Future of Workers’ Compensation Insurance 2021
HARTFORD, CT – April XX, 2021 – How will the expansion of Covid-19 presumptions affect workers’ compensation insurance? Will newly introduced presumptions challenge the foundations of the workers’ compensation, cause the next workers’ compensation crisis, or prove to be manageable? Is workers’ compensation the appropriate source of benefits for an infectious disease in the first place?
The Conning Focus Series, “Presumptions and the Future of Workers’ Compensation Insurance 2021” addresses these questions. In this Focus Series report, we explore potential outcomes for workers’ compensation from pandemic-driven presumptions based on the latest data and research available.
“Shortly after the outbreak of COVID-19 states, rating organizations and analysts developed models and developed point estimates and ranges of potential or expected COVID-19-related workers’ compensation losses. There was a wide gulf separating estimates generated in the late first quarter from different sources. First estimates ranged from a low of $8.4 billion to close to $100 billion,” said Alan Dobbins, a Director with Insurance Research at Conning.
“Our analysis of the available data and of disclosures by insurers and state workers’ compensation bureaus leads us to conclude that, barring the development of a long tail from post-acute Covid-19 persisting and manifesting years after the initial infection, the loss magnitude will be manageable by the workers’ compensation industry,” added Steve Webersen, Head of Insurance Research.
“Presumptions and the Future of Workers’ Compensation Insurance 2021” Focus Series is available for purchase from Conning by calling (888) 707-1177 or by visiting https://www.conning.com/insurance-research.
* * *
Conning (www.conning.com) is a leading investment management firm with a long history of serving the insurance industry. Conning supports institutional investors, including insurers and pension plans, with investment solutions, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
# # #