Catastrophic workers' compensation claims are very rare and hugely expensive–typically more than $1 million in costs–yet financial projections made in the first year are often way off the final amount.
Luckily, there are a number of strategies used by sophisticated insurers to make more reliable projections from the outset of the claim.
In addition to increasing the reliability of the projections, these strategies can also decrease the total cost of the claims by as much as one-third through controlling the drivers of cost escalation.
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