While any workers’ compensation claims can result in costly ramifications for your organization, one category of claim in particular—known as a “mega claim”—has the potential to carry significant consequences.
True to its name, a mega claim is characterized as an exceptionally large claim— typically totaling $3 million or more in incurred losses. In the realm of workers’ compensation, these claims usually stem from employees experiencing severe injuries or illnesses on the job.
What’s more, mega claims have become more common in the past decade. In fact, according to a recent study conducted by the National Council on Compensation Insurance (NCCI), these claims have reached a 12-year high—increasing in both frequency and severity.
Download the resource to learn more.