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There were 578 COVID-19 workers compensation indemnity claims in Florida in September, down from 2,469 in August, both steep drops from the all-time high of 7,445 in July, according to a report released Friday by the state’s Department of Financial Services, Division of Workers’ Compensation.
As of Sept. 30, 7,320 COVID-19 comp claims remain open and 13,901 have been closed since January, according to the report.
Overall since January, insurers have paid $30.8 million in medical costs and indemnity for COVID-19 claims. Overall, insurers paid $418.2 million in all claims.
Of 21,221 claimants since January, 6,810 work in protective services, including first responders, 6,243 work in the service industry, 5,719 work in health care, 2,244 work in offices, and 205 work in the airline industry.
Insurers have denied 9,322 claims since January, according to the report.
More insurance and workers compensation news on the coronavirus crisis here.
David Flandro, managing director of analytics at insurtech firm Hyperion X Ltd., said that reinsurers have taken a larger proportion of the COVID pandemic-related claims than earlier anticipated, Artemis reports. This suggests the share of losses taken by insurance-linked securities funds and investors in some sidecar vehicles and quota shares may also be larger than expected.