While any workers’ compensation claims can result in costly ramifications for your organization, one category of claim in particular—known as a “mega claim”—has the potential to carry significant consequences.
True to its name, a mega claim is characterized as an exceptionally large claim— typically totaling $3 million or more in incurred losses. In the realm of workers’ compensation, these claims usually stem from employees experiencing severe injuries or illnesses on the job.
Mega claims are not only expensive, but often lengthier and more complex in nature than a typical claim. Such claims can leave lasting impacts on your employees by way of life-altering injuries and illnesses, as well as your overall organization through hefty costs, lost time and the potential for severe reputational damage.