5. “Lengthy COVID” has been a thriller to the insurance sector – company insurers
As research evolves into what has been referred to as "long-term COVID," the idea that workers' compensation payers and employers might be hooked for a worker's myriad of long-term health problems following a worker's diagnosis of COVID-19 became an important topic in the end of the year.
In the fifth most-read story on the Business Insurance website in 2021, experts looked at the long-running COVID challenges that are likely to affect workers' compensation and disability management in the years to come.
Symptoms include tiredness, chest pain, shortness of breath, joint or muscle pain, and difficulty concentrating. One study found 55 possible long-term effects of the viral infection, and medical experts say the symptoms could require the expertise of a variety of practices.
In July, the Ministry of Health and Justice issued a statement that COVID can long be considered a disability under federal law and provide joint guidance on what is considered a civil rights issue.
Meanwhile, financial analysts said the possibility of claims latency and the potential long-term health effects of the virus continue to be of concern, while rating the outlook for COVID-19 as positive.
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