Obscene Insurance Industry Profits – 6 Years Running!
The insurance industry is having a hard time masking its delight over recent profit data.
An industry newsletter recently reported that the 6 year period since 2013 was the longest stretch “of profitability during any period in the last 40 years”.*
Despite this admission, the article went on to describe an important worker right that the insurance industry has in its sights – wear and tear injuries.
Wear and Tear injuries ( also known as Cumulative Trauma injuries) can occur over time when a worker is engaged in repetitive work activities, such as heavy lifting, keyboarding, or inhaling toxins. The insurance industry has attempted to limit Cumulative Trauma claims because they could lead to expensive claims, and it is difficult to predict when a human body will wear out.
As usual, the “solution” – at least from an insurance industry standpoint – is to limit, or even eliminate, a workers right to recover for an injury or condition caused by work. Why?
Because insurance company greed never sleeps.
*Source: Work Comp Central 6/14/19