Reserving 101 For Workers Compensation Claims
05/26/21 Michael Stack Reserving workers compensation claim files is the art of predicating the financial cost of the claim and setting aside monetary values to cover payments until closing. Unlike other types of casualty losses, many factors are known very early in the workers compensation claim handling process. Known Factor Examples: The benefit payments are set by statute and state mandate with minimum and maximum values. These are published and adjusted annually. For example a temporary total benefit might be a minimum of $400 weekly and a maximum benefit might be $900. Most formulas are...
Source: workerscompensation.com