MSIG has recently embarked on a yearlong initiative entitled, “Close the Gap”, which will focus on the timely reporting of workers’ compensation claims. This collaborative initiative involves various departments, (Marketing, Risk Engineering, Underwriting and Claims), who will partner with our clients in identifying opportunities to shorten the “Gap” between accidents and loss reporting. It is widely recognized within the property and casualty claim landscape, that timely loss reporting plays an integral part in achieving quality claim outcomes.”
Timely Reporting of Workers’ Compensation Claims
WHY Reducing The Time Gap to Report Claims Benefits You:
Claims reported within 3 days of the injury produce better results and—ultimately—cost less, according to MSIG data.
Our Preferred Provider Networks can provide appropriate medical care quickly.
Your employee morale remains intact.
WHAT Are the Consequences of Late Reporting:
It increases the potential for litigation.
It compromises a timely and thorough investigation of the claim.
It increases the potential your employees will receive medical treatment from a non-preferred provider.
It can result in higher costs.
HOW You Can Achieve the Best Results:
Educate employees on the importance of prompt claims reporting.
Report injuries to MSIG immediately.
Establish a goal of reporting 80% of ALL claims within 3 days.
Stay involved in the claims process.
Post a list of Preferred Providers in a prominent location.
Note: Timely reporting of all claims types is essential in achieving quality claim outcomes.
MSIG refers to the U.S. subsidiary insurers of Mitsui Sumitomo Insurance Company, Limited, a member of MS & AD Insurance Group. The insurers are managed by Mitsui Sumitomo Marine Management (U.S.A.), Inc. with offices at 15 Independence Boulevard, P.O. Box 4602, Warren, NJ 07059-0602, USA.