Giving Thanks To The System That Feeds Us
This is my giving thanks for Workers Compensation. Workers Compensation with all of its trials and tribulations is sometimes overlooked for fueling a very large industry – insurance services. We analyze Workers Comp to the nth degree on a claim-by-claim basis or as an intricate part of society.
If one wants to see the diverging opinions on almost any subject on Workers Comp, just check out the LinkedIn posts in some of the groups such as Workers Comp Analysis. We, in this arena, regardless of outlook on this very defined area of insurance should be thankful.
There are so many employees, consultants, and regulatory agencies that depend on Workers Comp as an avocation. Almost all of us did not plan to work in Workers Compensation. I took my first job in insurance as an all lines claims adjuster trainee many years ago. Workers Comp was not even considered the most important coverage for business owners when I first adjusted claims.
Technology has enhanced Workers Comp over the years. However, I do not think that technology will ever replace very many functions in any department. This area of insurance leans so much on the basic communication process.
Workers Comp does provide some sort of employment stability in an otherwise very unstable job market. We all become very frustrated at times with the world of Workers Comp. Sometimes, it is best to look at the forest instead of the trees. This industry has taken its bumps and bruises during the Great Recession. WC is still standing and doing well. That is the one main point for which to be thankful – stability.
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