Report Shows First-Year Workers and Older Workers Drive Workers' Comp Claims Costs

A recent study conducted by The Travelers Companies, Inc. revealed that older workers and employees in their first year on the job tend to drive up the frequency and cost of workers' compensation claims. The survey analyzed 1.2 million claims submitted from 2016-2020 and found that workers 60 years or older incurred 15% higher costs than those generated by injured workers between the ages of 35-49, and had claims costs that were 140% higher for those aged 18-24. Meanwhile, regardless of age, first-year employees accounted for 34% of all claims and nearly 7 million missed workdays due to injury. The study found no correlation between industry experience or age and the rate of injury among first-year employees. Read more>>>New employees, aging workforce driving workers’ comp claims | PropertyCasualty360