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SPEAKING UP ABOUT SUICIDE RISK: HOW TO REMAIN VIGILANT IN WORKERS’ COMP

Suicide is not an issue in just workers’ comp; it’s a humanity issue. Panelists
at National Comp 2023 share why it’s imperative not to ignore mental health
risks.
By: Emma Brenner | October 9, 2023
Topics: National Comp | Workers' Comp | Workers' Comp Forum



The topic of suicide is an uncomfortable one to include in our dialogue, but
that doesn’t mean it should be avoided or ignored; suicide rates in this country
are on the rise.

The CDC’s data shows that the year 2022 brought an all-time high suicide rate in
the United States, a 3% increase from 2021. These numbers indicate that suicide
is more common now than at any point in history since World War II.



Additionally, there are several factors that can contribute to a person’s
potential vulnerability to suicide risk. These include certain occupations as
well as “certain factors associated with the work,” according to Dr. Geralyn
Datz, president, and clinical director of Southern Behavioral Medicine
Associates. These occupations that are susceptible the most include
construction, health care and farming.

Suicide is a major problem not only in this country, but in the workers’ comp
industry. Datz noted that while the industry has taken progressive steps in
acknowledging and addressing mental health conditions, the spotlight needs to
grow larger.

And it did at National Comp 2023 in Las Vegas. Datz moderated a session during
which panelists discussed the ripple effects of suicide in their personal and
professional spheres, the impact it has on the workers’ comp space and how we
can best support employees at risk of committing suicide.


IT’S UNCOMFORTABLE, BUT SHOULD BE TALKED ABOUT

On the session stage, Datz was joined by Yvonne Guibert of the Institutes of
Health, Dr. David Hanscom of Vertus Inc. and David Vittoria of Carisk Partners.
The session began with the panelists discussing their personal run-ins with
suicide.



Guibert grew up with a mother diagnosed with bipolar disorder, which would cause
her to alternate between periods of mania and depression. Guibert was 19 years
old when her mother took her own life. Through therapy, Guibert was able to arm
herself with tools and resources to help her work through the trauma she endured
early on in her life.

Dr. Hanscom has had 20 clinical colleagues die by suicide, including one of his
medical school classmates. After 15 years suffering with chronic migraines,
Hanscom also found himself on the brink of a suicide attempt. During the
session, he said that he doesn’t know why he didn’t end his life that day, but
he’s adamant about sharing what he’s learned about the suicide epidemic to help
others who may be teetering between life and death.

Vittoria had two members of his family attempt suicide and like Hanscom, has had
several colleagues die by suicide. They were all mental health professionals.

“Those six colleagues probably had a combined 300 years of clinical experience,
focusing on those with prominent risk factors that typically lead to suicide,”
Vittoria said. “So, this topic resonates with me both personally and
professionally.”


THE RISING RATES

Guibert, Hanscom and Vittoria’s proximity to suicide are not uncommon, Datz
noted during the session.

Prior to the start of the pandemic, the Surgeon General declared the “Loneliness
Epidemic,” citing humans’ struggle to connect and form bonds with others largely
stemmed from the intense use of social media. Once the pandemic was in full
swing, “there was an overall 25% increase in the prevalence of anxiety and
depression worldwide,” Datz said.

“This is a human condition problem,” Hanscom said.

He went on to explain that the functions that our brains undergo to withdraw
from physical pain are the exact ways our brains process mental pain. The
difference is that our brains are not equipped with a withdrawal response from
mental pain.

“We have no protection from mental pain, so we develop repetitive, unpleasant
thoughts,” Hanscom said. “We experience them repeatedly, we suppress them, and
that fires up our nervous system even more.”

Vittoria also noted that the mental health epidemic coincides directly with the
opioid epidemic.



“Layer [the opioid epidemic] on top of COVID-19 and factor the already
marginalized populations with lower access to health care and mental health care
… in the social media age,” he said. “This has all fanned the flames that bring
us to where we are today.”


THE WORKERS’ COMP LENS

Because suicide is clearly a global, humanity issue, it’s a definitive risk
within the workers’ comp space. Just as certain occupations and age groups are
more susceptible to the risk of suicide, there are “certain work factors that
can be associated with suicide attempts and completions,” Datz said.

She continued, “These [factors] — job loss or related stress, financial stress —
have a real link to work injury, addiction, and suicide.”

And while there’s no ignoring the link between an injured workers’ mindset and
their road to recovery, Vittoria noted that the industry may not always be
enthusiastic about paying for those mental health resources.

He said, “We turn a blind eye to the compensability of the emotional impact
after an injury.”

In addition, any injured worker can find themselves vulnerable to anxiety or
depression; it does not necessarily depend on if this worker was suffering from
these mental health issues prior to injury. From financial unknowns to the fear
of not being able to fully return to work, the injured worker is highly
susceptible to the onset of anxiety and depression.

So, what can workers’ comp professionals do to address the risk of suicide in
injured workers? Sometimes, it’s as simple as opening the dialogue.

“I think a lot of times, the injured workers are really hoping to be listened
to,” Datz said. Additionally, there are resources that employers can deploy for
those injured workers suffering. The Center for the Study of Traumatic Stress
also provides free training that can equip the workers’ comp professionals with
psychological First Aid.

The panelists’ discussion emphasized the importance of maintaining dialogue
around the risk of suicide. And although “it’s not easy to talk about suicide,”
as Datz reiterated during the session, avoiding the topic forms a stigma.

Keeping the conversation going in the workers’ comp space, on the other hand,
could save lives. &


Emma Brenner is a staff writer with Risk & Insurance. She can be reached at
brenner@theinstitutes.org.





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SPONSORED: LIBERTY MUTUAL INSURANCE



FINANCIAL LINES EXPOSURES ARE SHIFTING. INSUREDS NEED A PRODUCT SUITED TO THEIR
EVOLVING NEEDS

Today’s risk environment demands financial lines products tailored to today’s
complex exposures.
By: Liberty Mutual Insurance | March 1, 2024

Many different risks keep business leaders up at night. Some might worry about
business revenue or stock performance. Others might have concerns about their
property exposures.

Close to the top of that list? Financial lines exposures. Since 2020, management
liability exposures have changed substantially. In part, these shifting
exposures are the result of the pandemic and the unstable labor market it
created.

COVID contributed to layoffs, supply chain issues and employment shortages,
though it’s not the only factor leading to an increase in employment practices
liability (EPL) exposures. New environmental, sustainability and governance
(ESG) regulations and diversity, equity and inclusion risks are prevalent too.

“In 2020, we started seeing a lot of different risk factors that we haven’t seen
before,” said Michael Englert, senior vice president and head of private /
non-profit Financial Lines at Liberty Mutual. “It’s driven a rethink in how we
shape our policies to respond to today’s complex exposures.” Indeed, carriers
that listen and respond to the concerns of brokers and clients by creating
policies built for today’s evolving risks will be more important than ever.


EVOLVING FINANCIAL LINES EXPOSURES

Michael Englert, Senior Vice President and Head of Private / Non-profit
Financial Lines at Liberty Mutual

One of the major EPL risks employers are concerned about in the wake of 2020 is
lawsuits over layoffs. Many organizations increased hiring due to labor
shortages early in 2021. Now, as fears over a possible economic slowdown linger,
many businesses have laid off portions of their workforces.

“They’re trying to right size the organization,” Englert said. “A lot of
companies, they went out and they were over-hiring individuals.” With layoffs,
companies need to be careful who they fire and who they retain to avoid the
perception of discrimination.

Another major management liability risk is the instability of today’s economy.
Though business and consumer spending have largely remained resilient in the
face of inflation and high interest rates, at some point, interest rates will
likely begin to temper economic growth.

“The economy has been so resilient based on all these economic headwinds and
interest rates being super high, it doesn’t seem it’s slowing down consumer
spending. Is there a point that it’s going to substantially drop?” Englert said.
“Probably the biggest exposure, from a D&O perspective, would be a bankruptcy
filing.” For that reason, a changing interest rate environment has been top of
mind for many management teams.

Beyond these risks, businesses must also worry about the current political
climate. It’s no secret that “the world is very divided right now,” Englert
said. The polarized political environment we’re currently in could have ripple
effects for management liability exposures.

Take diversity, equity and inclusion programs, for instance. Many companies have
adopted efforts to hire a more diverse workforce and train employees to be more
sensitive, especially in the wake of the racial justice movement of the past few
years. But now that the Supreme Court overturned affirmative action, some are
wondering whether businesses with DEI hiring initiatives might face similar
lawsuits.

“If you have a DEI program, all of a sudden that’s a big exposure that has come
under the microscope,” Englert said.

ESG programs are another area of concern. The SEC has once again delayed its
rulemaking process regarding ESG disclosures. Now, it plans to implement the
rule in spring of this year. When it does, companies could face legal action
over their ESG promises.

“You could get sued for representations you’re making. It’s a very different
environment now than it was just five years ago,” Englert said.

> “The economy has been so resilient based on all these economic headwinds and
> interest rates being super high, it doesn’t seem it’s slowing down consumer
> spending. Is there a point that it’s going to substantially drop?”
> — Michael Englert, Senior Vice President and Head of Private / Non-Profit
> Financial Lines at Liberty Mutual


AMID UNCERTAINTY AND A SOFT MARKET, BROKERS SEEK POLICY CLARITY FOR INSUREDS

Despite these emerging exposures, management liability rates have softened in
recent years. That’s notable when so many other P&C lines have been trapped in a
hard market. New entrants to the market have kept prices for D&O and other
management liability policies low.

“Right now, there’s an overabundance of capacity, and the market has gotten
softer rather quickly, especially in the public space,” Englert said.

Public companies in particular have benefited from increased capacity in the
management liability space. Private companies face a few more barriers to
getting coverage: They often need more from their carriers, including in-house
claims handling.

“On the private side, you really need to be a competent primary market; you’ve
got to have in-house claims handling,” Englert said.

As time goes on, it will be interesting to see how new entrants in the
management liability market make out. Many don’t have paid claims on their books
yet — and claims in this sector “have long tails,” Englert said. “The claim
might not settle for 3, 4, 5, 6 years.”

Brokers and carriers are also considering how their policies can respond to some
of today’s newest risks. Questions abound about how artificial intelligence (AI)
might affect management decisions. While those issues are important and need
consideration, many businesses are already seeing AI become a substantial risk
in the cyber arena because of its ability to initiate social engineering
attacks.

In February, a finance worker in Hong Kong paid criminals $25 million after the
attackers used deepfake technology to impersonate the company’s chief financial
officer in a video conference call. In this case, the worker did what many
cybersecurity trainings teach employees to do, and yet the AI deepfake was too
convincing.

The case has left brokers and risk managers rattled. “How do you protect
yourself from that?” Englert asked. Companies will need insurance to protect
them from social engineering while they develop new cybersecurity protocols that
address how criminals are using these nascent — but sophisticated —
technologies.


A CARRIER COMMITTED TO ADDRESSING TODAY’S MANAGEMENT LIABILITY RISKS

For business leaders who are making employment, financial, governance, and other
decisions, management liability coverage is a critical line of defense. In
today’s evolving risk environment, brokers and their insureds are seeking
carriers who are willing and able to create products tailored to their needs.
Liberty Mutual’s new management liability packaged solution, ProShield, is
designed to do just that, providing comprehensive and customizable coverage.

“Our goal was to make sure we could develop a solution that checks as many boxes
on that list as possible,” Englert said. “We want market-leading, comprehensive
coverage that’s also flexible.”

The product was developed after extensive conversations with brokers about the
risks for which insureds are seeking coverage. Then, Englert and team
incorporated that feedback into its policy. A case in point: the product’s
social engineering coverage.

While ProShield is designed to complement cyber policies, it does provide
insurance for social engineering attacks, like AI deepfakes. That’s something
brokers have been concerned about recently.

“We gather all that feedback to see what’s important to the brokers,” Englert
said. “That’s always been our philosophy in shaping our products to client
needs. And that work is ongoing—it’s really making the form future-proof,” he
added.

To learn more, visit:
https://business.libertymutual.com/commercial-solutions/management-liability/






This article was produced by the R&I Brand Studio, a unit of the advertising
department of Risk & Insurance, in collaboration with Liberty Mutual Insurance.
The editorial staff of Risk & Insurance had no role in its preparation.

Liberty Mutual Insurance offers a wide range of insurance products and services,
including general liability, property, commercial automobile, excess casualty
and workers compensation.







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