Overview of US Workers Compensation System - PowerPoint Presentation

Overview of US  Workers Compensation System
Overview of US  Workers Compensation System

Overview of US Workers Compensation System - Description


James Lynch Chief Actuary Insurance Information Institute 110 William Street New York NY 10038 2123465533 jamesl iiiorg wwwiiiorg III Mission Statement ID: 714708 Download Presentation

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Slide1

Overview of US Workers Compensation System

James Lynch, Chief Actuary Insurance Information Institute  110 William Street  New York, NY 10038 212.346.5533  jamesl@iii.org  www.iii.orgSlide2

I.I.I. Mission Statement

Improving public understanding of insurance...…what it does and how it works

2Slide3

1910: Before Workers CompensationSlide4

The Worker’s Plight

Source: Crystal Eastman, “Work Accidents and the Law.” (published 1910.)Slide5

The Grand Bargain

SOURCE: Insurance Information Institute research.(No. of States with Workers Compensation Laws)Slide6

The Role of the States

SOURCE: Insurance Information Institute.States with Monopolistic WC SystemsSlide7

Benefits Varies by State

SOURCE: ProPublica.org, https://projects.propublica.org/graphics/workers-compensation-benefits-by-limb Slide8

12/01/09 - 9pm

eSlide – P6466 – The Financial Crisis and the Future of the P/C8Does the System Work?SOURCE: U.S. Bureau of Labor Statistics, National Census of Fatal Occupational Injuries in 2015, released December 16, 2016, and previous reports. Number of Fatal InjuriesSlide9

12/01/09 - 9pm

eSlide – P6466 – The Financial Crisis and the Future of the P/C9Does the System Work?Source: U.S. Bureau of Labor Statistics, National Occupational Injuries and Illnesses Requiring Days Away from Work, 2015, Table 1, released November 10, 2016, and earlier releases.(Number of Work-Related Injuries and Illnesses)Slide10

Current Issues

The Opioid EpidemicSOURCE: National Institute on Drug Abuse.Overall Drug Abuse DeathsOpioid-Related Deaths¹Opioids less synthetic opioids ²Fentynyl and other non-methadone synthetic opioids Slide11

Current Issues

Medical MarijuanaSOURCE: National Journal.Congressional Cannabis CaucusRohrbacher (CA)Bluemenauer (OR)Young (AK)Polis (CO)

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Fully legal

Medical use legal and recreational use decriminalized

Medical use legal

Recreational use decriminalized

Fully illegalSlide12

SummaryWorkers Compensation Has Worked in United States for More Than A Century.

Law Is Result of Grand Bargain Between Labor and Management.Every State Has Its Own Workers Compensation System.The System Evolves to Address Emerging Issues.Slide13

Thank You!Questions?

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