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Will 3D Printing Affect Worker’s Compensation?

Will 3D Printing Affect Worker’s CompensationWe are constantly reminded of the innovative, technological advancements that change a variety of industries. The newest craze that has become a more accepted and understood process is 3D printing.  3D printing is steadily becoming a beneficial technology in the medical and healthcare industryAccording to an article in WorkCompWire, 3D printing can be seen to provide cost-effective devices to injured workers. Although there are questions surrounding whether or not this technology is well designed, tested or controlled, 3D printing can potentially shorten recovery periods, accelerate healing, reduce costs and increase customization for overall fit and functionality.

As far as the manufacturing of these products, there are risks that can be costly to Workers’ Comp. It’s quite likely that defective products can be made due to unregulated manufacturing. This occurs when underwriters and brokers do not assess the company’s risk management profile. As an insurance company, we want FDA approved products to promote safety.

In addition, 3D printing increases the risks of counterfeit products due to the time of product development. This can easily put a company out of business. However, there are a few things one can do to overthrow hackers. Some manufacturers focus on putting tracer elements and watermarks to their formulas to protect their profit and reputation. Other manufacturers use watermarks to prevent file sharing.

At Associated Specialty Insurance Agency, we give access to Workers’ Comp markets for the Healthcare Industry. We are sure to provide markets for several sectors of the healthcare industry, including, but not limited to, nursing home, nursing facilities, and regional hospitals. We understand that every business is different and strive to provide you with solutions depending on what fits best. For more information, call us today at 866.679.7457.

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