Quote of the day
"These securities are speculative and involve a high degree of risk,"
December 1997 Confidential memorandum to the state of Ohio by politically-connected coin dealer Tom Noe, who is now accused of pilfering more than $2.2 million from the $50 million rare-coin funds he managed
Temporary Total Disability Rate for 2007 to Increase
The California Division of Workers’ Compensation has announced that the California maximum temporary total disability rate will increase to $881.66 on Jan. 1, 2007, marking the first year the rate will be affected by a change in the state average weekly wage. Workers’ Comp Executive
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Comp Costs and Losses Declined in 2006: WCIRB
California written workers’ compensation premium reported for the first half of 2006 was $9 billion, 21 percent below that of the first half of 2005, according to the Workers’ Compensation Insurance Rating Bureau of California. By Kelly Johnson, Sacramento Business Journal
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WCAB Employers Liable for Out-of-Network Medical Costs
Employers or their insurers are liable for injured employees’ out-of-network medical costs when they fail to inform employees about their rights under California’s medical provider network system, according to an en banc opinion by the California Workers’ Compensation Appeals Board. By Robert Ceniceros, Business Insurance
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Noe Attorney Blames BWC for ‘Dumb’ Investment
An attorney for Ohio coin dealer Tom Noe, who is standing trial for allegedly looting from the $50 million rare-coin investment he managed on behalf of the Ohio Bureau of Workers’ Compensation, is expected to question the bureau for signing a “very dumb contract” that allowed Noe to buy and sell coins from himself with state money. By Mike Wilkinson, Toledo Blade [With Photo] Go to the Full Story…
Tip Leads to Conviction of Massachusetts Correctional Officer
An anonymous tip in 2003 leads to the conviction last week of a 43-year-old former Massachusetts correctional officer, for receiving more than $55,000 in temporary disability benefits and violence pay for a purported back injury while he was working behind the bar of his pub. By Brian R. Ballou, Boston Globe
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Bay State Detective Says He Will Give Back Benefits
A Springfield, Mass. police detective says he will fully refund more than $8,000 in workers’ compensation benefits that the city, which sued him, alleges he received by mistake. The lawsuit alleges that he failed to notify the school department when he resumed police work, and wrongly received workers’ comp for several weeks. By AP via WPRI (Providence, R.I.)
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Study Finds Competitive Advantage in ‘Healthy’ Organizations
Employees who feel empowered and valued at their workplace are more productive, more loyal, less stressed, and have better physical, emotional, spiritual, social and mental health, according to a report by the Canadian Center for Occupational Health and Safety. Canada’s “Healthy Workplace Week” will begin October 23. Machinery and Equipment (Toronto)
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Connecticut Town Settles Cops’ Hypertension Claims
Westport, Conn. officials approve an appropriation request from the town attorney to cover settlement agreements for heart and hypertension claims of two police. One officer is set to receive more than $113,000 for a 30 percent partial permanent disability of the heart. By Kirk Lang, Westport News
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South Carolina Employers Say Rates Are Killing Their Businesses
Those familiar with the workers’ compensation system in South Carolina point to three main reasons for the state’s high workers’ comp rates, which also are increasing more than any other state’s: the inconsistency and unpredictability of comp awards; the state’s Second Injury Fund; and fraud. Meanwhile, Palmetto State employers say the high rates are enough to drive them out of business. WLTX (Columbia, S.C.)
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