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David M. Benenfeld, P.A.
7800 W. Oakland Park Boulevard
Building F
Suite 216
Sunrise, FL 33351
Phone: (954) 677-0155
Fax: (954) 677-0773

Dade and Broward County Injury News

Will a Recession Impact Workers' Compensation Claims?

Posted on Jul 25, 2008

The sluggish economy is discussed almost daily in the news and in various commentaries. There was a recent poll, which examined a possible repercussion from a looming recession that most people do not think about. The question being addressed was - would a recession increase the amount of workers’ comp claims?

The study was conducted by Wausau Multiline Productivity Poll that showed only 23 percent of respondents believed a recession would increase their workers’ compensation claims. Approximately two-thirds of the respondents didn’t think there would be any change. The respondents’ perceptions are consistent with a 50-year historical data analysis by NCCI Holdings Inc., a workers’ compensation research organization. Based on NCCI’s research, the amount of workers’ compensation claims actually go down during recession. According to NCCI, this decline is due to the lower claim frequency among the more experienced workers who stay on the job after the effects of layoffs and a slower rate of hiring new workers.

Susan Doyle, the president and COO of Wausau Insurance stated, “At a time when media reports raise recession concerns, we believe most employers are maintaining a levelheaded risk management outlook.”

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David M. Benenfeld, P.A.
7800 W. Oakland Park Boulevard
Building F
Suite 216
Sunrise, FL 33351
Phone: (954) 677-0155
Fax: (954) 677-0773
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