The cost and frequency of workers compensation (WC) claims vary greatly between the different states. Each individual state, or jurisdiction, has its own WC benefit structure, administrative system, and governing statutes.
This paper examines and discusses metrics specific to the State of New Jersey (NJ). More precisely, the paper will:
- Present current and historical claim incidence rates (claim frequency) in NJ;
- Present current and historical estimates of average WC claim costs in NJ based on the most
recently available insurance industry data;
- Benchmark claim frequency, claim costs, and overall costs against Countrywide metrics; and
- Discuss NJ’s relative WC cost ranking compared to other states.