The 2025 Psychological Safety Study highlights critical insights for the insurance and workers’ compensation industry, revealing how trust, open communication, and mental well-being impact return-to-work outcomes, claims durations, and workforce retention. Learn how insurers, TPAs, and employers can foster safer, more productive workplaces while mitigating long-term claims risks.
Failing to comply with workers’ compensation data reporting can lead to hefty fines and regulatory risks. This guide explores common pitfalls and strategies insurers can use to prevent costly compliance errors.
Medical Data Call (MDC) reporting is essential for compliance and analytics in workers’ compensation as more insurers are required to participate. The NCCI Data Now 2025 notes challenges insurers face, including data integration and accuracy. By enhancing data capabilities and automation, insurers can streamline submissions, mitigate compliance risks, and gain competitive advantages.
Unit Statistical Reporting (USR) is vital for workers’ compensation insurers, affecting e-mod calculations and compliance. Insurers face challenges like data accuracy and submission timeliness, risking penalties and inefficiencies. The article discusses enhancing data quality, automating reporting, and staying informed on regulations to mitigate risks and transform USR challenges into competitive advantages.
As workers’ compensation reporting evolves, insurers will need to submit more detailed indemnity and medical data, impacting underwriting and claims management. Compliance is essential to avoid penalties and improve outcomes. Insurers can gain advantages by adapting quickly, utilizing automation, and ensuring data accuracy for effective risk management and competitive positioning.