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Report: Work comp costs for U.S. businesses reach nearly $60B

Every year, employers across the nation eagerly anticipate the release of the Liberty Mutual Research Institute's Workplace Safety Index, which ranks the top 10 work injury causes over the previous year in terms of workers' compensation costs.

This anticipation on the part of employers comes from the fact that the Workplace Safety Index enables the risk managers and other safety professionals on their payrolls to better identify occupational safety risks, devise the necessary solutions and allocate safety resources as needed.

The findings of this year's Workplace Safety Index indicate that work injuries remained a very serious problem in 2016, as U.S. businesses spent almost $60 billion in direct workers' compensation costs. To put this in perspective, this breaks down to over $1 billion per week being spent on serious work injuries.

While these figures likely came as a shock to many employers, the top ten injury causes, which together accounted for $49.92 billion, or 83.4 percent, of the total cost burden, were likely less surprising given their firm entrenchment in the top spots over the years.

The top ten injury causes included:

  1. Overexertion involving outside sources - $13.79 billion
  2. Falls on the same level - $10.62 billion
  3. Falls to a lower level - $5.50 billion
  4. Struck by object or equipment - $4.43 billion
  5. Other exertions or bodily reactions - $3.89 billion
  6. Roadway accidents involving motorized vehicles - $3.7 billion
  7. Slip or trips without falls - $2.3 billion
  8. Caught in/compressed by equipment or objects - $1.95 billion
  9. Struck against equipment or objects - $1.94 billion
  10. Repetitive motions involving micro-tasks - $1.81 billion  

Here's hoping employers take these figures seriously and that we start to see real progress being made in 2017.

In the meantime, if you've suffered a serious work injury and have questions about work comp benefits, or your initial claim was denied, consider speaking with a skilled legal professional to learn more about your options.

Philpot Law Firm, PA
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Greenville, SC 29601

Toll Free: 866-853-3497
Toll Free: 866-853-3497
Phone: 864-990-0226
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