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Your region affects variance in Covid-19 claims
December 23, 2020
Insurance claims are all over the board this year due to the global pandemic surrounding coronavirus. The lockdowns, the restrictions and the regulations dramatically shifted how everyone approaches their daily work.
According to the report, Southern California showed significantly higher incidents with insurance claims, especially workers’ compensation cases, with high rates of Covid-19. For example, San Deigo County saw around 25% of claims from April 1 to September 30 as Covid-19 infections. If you compare that to less-populated Imperial, the area only saw 7.5% of claims due to Covid-19 infections.
It’s critical to note that it is a correlation, not necessarily a direct cause for the rising claims in these highly-populated areas, like Los Angeles and Orange counties. The study also found that employees in health care and public administration have higher shares of injuries arising from COVID-19.
The researchers also reported that overall, even after controlling for regional differences in wages and industry mix, indemnity claim frequency is “significantly higher” in the Los Angeles area and “significantly lower” in the San Francisco Bay area.
The combination of foundings helps companies and businesses understand how their insurance claims may continue to shift until there is a vaccine or a dramatic reduction in the spread of the coronavirus.