NCCI has collaborated with nine states—California, Delaware, Indiana, Michigan, Minnesota, New Jersey, North Carolina, Pennsylvania and Wisconsin—to analyze COVID-19 claims characteristics.
Key findings include:
- COVID-19 claims represent 11% of total claims counts and 3.5% of incurred losses.
- Indemnity-only claims emerged as a significant share of reported COVID-19 claims.
- In aggregate, COVID-19 claims that remained open have relatively higher case reserves due to the uncertainty of COVID-19 infections, later-than-average accident dates and the timing of the pandemic’s various waves.
- COVID-19 indemnity claims closed more quickly than non-COVID-19 indemnity claims.
- Despite the higher closure rate, the ratio of paid to paid + case losses on COVID-19 claims is lower than for non-COVID-19 claims.
