Capital member Rich Lenkov was quoted in a Business Insurance article discussing efforts to close older workers’ compensation claims due to the pandemic in “More Legacy Comp Claims Closures Anticipated With Pandemic.”
The pandemic’s significant economic impact has forced many claimants who previously declined settlement offers to request to settle their workers’ compensation claims due to lack of income.
Rich has noticed the trend and stated that “many employers and carriers want to maintain their cash reserves during this uncertain economic environment and so are in no rush to pay on workers comp claims.”
The slowdown in cases being heard in courts, as well as anticipated claims management staff layoffs has also created an expected uptick in closures.
Read “More Legacy Comp Claims Closures Anticipated With Pandemic.”
May 27, 2020 Posted by DL Firm Firm News
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