Several weeks ago, Lockton published a study demonstrating that nationwide 67% of claims initially denied wind up being accepted within 12 months. Just as important in their findings is that these claims cost 55% more than those claims that are accepted from the outset. This news seems to have been a shock to many. I would surmise that the biggest surprise in these findings is that it was a surprise at all. Ive been saying that for years. So have others in the industry. True, our evidence was anecdotal rather than scientific, but you frankly had to have your head in the sand not to see the reality of that situation.
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