AIK Comp’s management provided millions in “premium discounts” to its members while the workers’ compensation insurance fund was slipping into a $59 million shortfall. Louisville, Ky.-based AIK Comp provided members with $38.6 million in discounts in a three-year period beginning Jan. 1, 2001, The Kentucky Post reported, citing an audit report prepared for the state’s Office of Workers’ Claims by a private consulting firm. The practice appeared to be the root cause of the $59 million shortfall the workers’ compensation firm now faces a deficit that more than 3,700 businesses in Kentucky are being ordered to cover.
Was this article valuable?
Here are more articles you may enjoy.
Old Republic to Acquire Small Farmowner Insurer Everett Cash Mutual
Viewpoint: Insurance and AI – A Double-Edged Sword
Catastrophe Bonds’ Huge Market Gains Put Reinsurers on Backfoot
World’s Largest Retirement Community Taps Muni Market to Help Build More Homes 


