Mark Walls, vice president of Safety National Insurance and a frequent commenter on workers compensation, publishes a "top 20" list of issues at the start of each year. For 2021 his list focuses heavily on the effects of the COVID-19 pandemic. Here is the list:
- Healthcare: revision of the Affordable Care Act, continued use of telehealth.
- Political polarization: need to restore public trust.
- Vaccine considerations: employers can require them, with limitations.
- Need for supply chain diversification: too much dependence on China.
- Public health policy needs focus on building trust, communication.
- COVID-19 claims development: most workers compensation claims are small, but death or extended hospitalization claims exceed $1 million.
- More employee benefits addressing mental health, telehealth, financial health, flexible work.
- COVID-19 presumptions blur the line between workers compensation and group health.
- Long-term effects of COVID-19 make it a co-morbidity problem.
- COVID-19 disrupted traditional analytics and benchmarking.
- Employers need to support employee caregiving.
- New regulations increase administrative costs.
- Workforce evolution: remote work will continue to expand.
- Economic recovery: some industries may not fully return.
- Insurance innovations will continue.
- Insurance price increases and coverage gaps.
- Increasing cyber risks.
- Public sector challenges: less revenue, decreased law enforcement staff.
- Insurance industry operations online; value of conferences questioned.
- Delays in litigation increase costs.
While the majority of these issues are connected to the pandemic, many also point to changes in the workforce and public policy.