According to a new report from Fitch Rates, the U.S. industry’s workers’ compensation line generated a significant profit in 2015. Managing director of Fitch, Jim Auden said that the upturn is due to “past premium rate increases, stable loss cost trends and improved loss reserve experience.”
Why is this important?
At the end of the day, it’s important to understand that Insurance Companies are here to make a profit. They aren’t guided by morality, or a sense of right and wrong. Their primary concern isn’t the injured worker’s road to recover, only what they are required by law to provide. Unfortunately, when state or federal law does not project the rights of the injured worker, it is the responsibility of work comp attorneys to appeal to the courts.
Time and time again, I have fought toe-to-toe with Insurance Companies who deny necessary treatment for the sake of profit. Time and time again, I have had to argue to the courts why my client’s home health care shouldn’t be cut. Why a paraplegic needs 24-hour health care. Why they need reliable medical transportation to and from the hospital. Why they need the medicine required to alleviate bladder spasms. Laws such as Senate Bill 863 have only aided profit-hungry insurance companies in denying treatment to the injured worker.
That’s why it is so important to hire a skilled and experienced work comp attorney to navigate an injured worker through the many obstacles and barriers to essential compensation and health care. In a perfect world, the Insurance Companies would do what was morally right. They wouldn’t make a client visit a doctor in network, only to disregard that doctor’s recommendations. They wouldn’t hire a negligent case manager, or keep our client’s separated from his or her family for months on end. They wouldn’t abuse Utilization Review and put the fate of our client in some out-of-state doctor’s hands. But they do, because they place profit over the injured worker’s well being. If you are an injured worker, please make sure you have an attorney look over your case. You deserve to have an experienced lawyer who can fight against profit-hungry insurance companies for the compensation and medical benefits that you deserve.