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Work Comp Insights

How Inflation Impacts Workers’ Compensation Insurance

This past year has seen growing inflation concerns, impacting individuals and industries across the board. The commercial insurance market is no exception to these concerns. Similar to other goods and services, inflation can also elevate the cost of insurance.

In the scope of workers’ compensation coverage, inflation issues have become increasingly evident through various sector trends—including labor shifts, rising wages, higher medical expenses and rate adequacy challenges. With this in mind, it’s important for businesses to better understand these trends and learn what they can do to mitigate inflation concerns within their workers’ compensation programs.

This article provides more information on how inflation impacts workers’ compensation insurance, outlines key factors currently influencing coverage costs and offers best practices to help businesses keep such costs under control. To read the rest of the article, click here.