Covid work comp claims - xmod/loss history?

[EugeneM]

Anyone have insight on if covid claims will impact loss history/Xmod? There was a mask manufacturer in Los Angeles that had hundreds of employees get sick... if that goes on their history no private carrier will want to write them ever again.... thoughts? finding very little material on it.

 

[marindependent]

Wow

 

[Life Hawk]

Bankruptcy... seems like that and a rebranding might be the only option for some.

 

[fed up]

What did the employees get sick from? Was it related to the material used to make the masks? Did they get an infection from a co-worker who was sick? I can't see a claim for Covid 19 infection being successful any more than an infection for the Flu of Chicken Pox

 

[Life Hawk]

What did the employees get sick from? Was it related to the material used to make the masks? Did they get an infection from a co-worker who was sick? I can't see a claim for Covid 19 infection being successful any more than an infection for the Flu of Chicken Pox

Did the facility use and can prove proper personal and facility protection? Those questions may very well be a reason that I would risk asses. Perhaps not a complete rejection, but definitely could cause a rate increase. The old models just don't seem to be able to handle the new "norm", and that is coming from a guy who hates masks and sees this thing as bad joke.

As companies are burdened with the effects of the shut down, even small increases in the cost of doing business may very well mean that they cannot survive.

Underwriters know very well the importance of protecting their company... and they will.

Many life companies have already added additional questions related to the Wuhan Flu to their apps as well as pausing certain levels of product or included age restrictions.

As @LostDollar would state, "caveat, I do not field underwrite for pnc"... but I do observe.

 

[EugeneM]

4 deaths 300+ sick from covid.... Mainly low wage clothing mfg positions in Los Angeles with a high immigration population. The company is LA Apparel. Not my account but I write a few risks with the carrier.

Not a chance they could have been ready for something like that. Majority of organized high wage positions dont have viral/bacterial in place. Not reasonably foreseeable in my opinion.

I am going to be watching this closely as I guarantee the other carriers are going to use this an example.

 

[EugeneM]

Los Angeles Apparel's factory shut after 300 workers contract coronavirus

 

[Life Hawk]

I am going to be watching this closely as I guarantee the other carriers are going to use this an example.

Companies are now reviewing how they are going to handle riot damage, be assured they will also add pandemic issues to the matrix.

I cannot say which bank (one of the largest in the country) I have a family contact who told me one location was so badly damaged that they are leaning toward not reopening that branch because of geographical location, after over a century at the location. Point to made; damage is mostly inter city, locations that often provide services to lower income population as those areas have seen the effects of poor municipal management over the years, this now becomes a risk of doing business that companies will not tolerate.

As good, respectable, solid companies role back their presence in these areas, property vales will drop and the continuing erosion will persist. Detroit.

Gone are the days when investors could at least rely on the rule of law and a police force to insure its enforcement.

 

[LostDollar]

As @LostDollar would state, "caveat, I do not field underwrite for pnc"... but I do observe.

Good job with your disclaimer training.

 

[EugeneM]

Companies are now reviewing how they are going to handle riot damage, be assured they will also add pandemic issues to the matrix.

I cannot say which bank (one of the largest in the country) I have a family contact who told me one location was so badly damaged that they are leaning toward not reopening that branch because of geographical location, after over a century at the location. Point to made; damage is mostly inter city, locations that often provide services to lower income population as those areas have seen the effects of poor municipal management over the years, this now becomes a risk of doing business that companies will not tolerate.

As good, respectable, solid companies role back their presence in these areas, property vales will drop and the continuing erosion will persist. Detroit.

Gone are the days when investors could at least rely on the rule of law and a police force to insure its enforcement.

Very well put... thank you. Regarding California Xmods - I did some digging and from what I can find the California WCIRB is not going to let this impact an insured's Xmod. Per our commissioner... it appears they are pushing the cost onto the carriers... good luck with that. Bacterial and viral exclusions are standard. See the feds taking control of this