Browsing by Subject "Workers Compensation"
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Item COVID-19 and the Insurance Industry: Workers Compensation in the Unseen Future(2021-05) Robles, KathrynThe presence of COVID-19 has affected many industries across the United States, with one of the more prominent industry being workers compensation. With an insurance contingent on the basic concept of a worker within their work environment, the introduction of this contagious illness impacted the industry as a whole. Insurance claims have adjusted: the frequency and severity rates, premium costs, and overall workers compensation loss costs have changed to fit the new socio-economic environment. However, to what extent? As such, this thesis aims to elaborate on three main topics. First, can we better understand the impact of workers compensation claims by analyzing how workers compensation was affected during previous recessions and trend it to the current recession transpiring in the United States. Second, how do less restrictive regulations and social interactions in a state such as Texas impact workers compensation loss costs. Finally, what actions can be taken to mitigate the changes in loss costs and better prepare workers compensation claims for future pandemics. As COVID-19 continues to develop across the United States, workers compensation has been impacted on both a financial and social basis.