Wow!! to go from $1 mil in 2005 to $74 Million is a big increase. I wish I could just get the interest on that.
We knew this was a money maker for the state.
This has nothing to do with the State Insurance Fund. This relates to self insureds. The fund increase was to make up for the inability of the self insured’s trusts to pay claims.
Right but wrong mcheck. You’re right that it has nothing to do with the State Insurance fund, however the security fund they are referring to has mandated contributions from carriers not self insureds
The Lawsuit was brought by First Cardinal on behalf of the Business Council’s self insurance trusts.
It would seem that the carriers would be up in arms as they make less money due to self insured’s and then may have to pay assessments to support their insolvencies.
Wow!! to go from $1 mil in 2005 to $74 Million is a big increase. I wish I could just get the interest on that.
We knew this was a money maker for the state.
Perhaps this will open the door for other insurers to be able to offer an alternative workers compensation insurance other than the NY State Fund.
This has nothing to do with the State Insurance Fund. This relates to self insureds. The fund increase was to make up for the inability of the self insured’s trusts to pay claims.
Right but wrong mcheck. You’re right that it has nothing to do with the State Insurance fund, however the security fund they are referring to has mandated contributions from carriers not self insureds
The Lawsuit was brought by First Cardinal on behalf of the Business Council’s self insurance trusts.
It would seem that the carriers would be up in arms as they make less money due to self insured’s and then may have to pay assessments to support their insolvencies.