Posted On: May 7, 2008, 2:14 pm CDT

Posted By: Sell it ASAP!!!

A little longer term memory and you will recall the State Fund's premiums were the most competitive in the market and they were paying 18% commission, so agents moved a ton of business to them. While other carriers had signficantly reduced revenue as they could no longer compete when the DOI capped schedule credit at 25%. As long as the DOI keeps the market from getting out of control like it did before we won't have a repeat of the last hard market. Selling SCIF is long overdue and now is the time to do it as business has been moving back to the private sector to get away from the nightmares the SCIF enjoys creating. Two things the new owner will need to do is eliminate the state retirement plan and the state agency workplace mentality which go hand in hand, and bring in people who know how to underwrite. With a Open rating market we don't need an assigned risk pool. Why does the State need to subside businesses that are not concerned with creating a safe work environment? Not being able to obtain WC insurance is a great incentive to make sure worker safety is a priority. By the way where is all that investment income SCIF(a non-profit corp.)stopped giving back to their policyholders in the form of dividends?