While 2006 and 2016 had the same number of adjusted mega claims, 2016 had fewer lost-time claims in total than did 2006. (Photo: Shutterstock)
Workers' compensation claims have been known to get high from time to time, but 2016 saw an uptick of 10 so-called mega claims (claims of $10 million or more), which is having a large impact on the workers compensation industry.
According to a research brief from NCCI, while the 2016 level of mega claims is high, it is not unprecedented. The same number of adjusted mega claims occurred in accident year (AY) 2006 and nearly as many in AY 2007 after inflation-adjusting past AYs to today's dollars. Also, 70% of the claims in 2016 were attributable to motor vehicle accidents and falls from elevation. Hospital and home health care account for more than half of the medical costs.
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