Opioid misuse and addiction
The opioid crisis continues to reach new heights and attract more headlines as abuse and misuse surge and spread around the world from already epidemic proportions in North America. The devastation to individuals and families is obvious, but long-term effects reach deep into entire communities with a heavier load on public health systems and resulting drain on economic and social wellbeing. What does this mean for insurers?
While drug abuse is most prevalent in lower socio-economic groups, the opioid crisis is not isolated to one segment of society and many overdoses occur among middle-aged, employed individuals. This increases the likelihood that existing policy holders, or new insurance applicants, may either have or develop health conditions which make them susceptible to misuse and addiction.
Read our latest L&H Trend Spotlight for more facts about the crisis and what it could mean for L&H insurers and important considerations for underwriting, pricing and claims.