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Psych claims now three times more costly than pre-pandemic
Pyschological injury claims have increased 17% during the pandemic, meaning there's a "third wave" poised to hit organisations that are slow to respond, an insurance specialist says.
Allianz's workers' compensation data shows there has also been a 19% increase in the number of psych-injury-related days of leave. This is up 11% this year alone, and psych claims now cost three times more than they did pre-pandemic, says chief general manager for personal injury, Julie Mitchell.
White-collar workplaces are the most affected, with "primarily financial services, government administration, education settings... seeing the biggest rise in mental health concerns", she told a briefing this morning to launch new Allianz research.
These issues are building towards a "third wave" of the pandemic, she warns...
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