Quote of the day
"I'm very concerned about giving [this] ability to an organization that I'm not quite sure [about]."
Michael Duvall (R-Yorba Linda), referring to State Fund
Go to the full story in this edition of Workers' Comp Executive
New Legislation Gives SCIF Room to Grow – A Lot
Two bills that would affect State Fund greatly pass out of the Assembly Insurance Committee. Get all the details on what could be in store for California’s quasi-governmental insurer of last resort.
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Commissioner Questions Bureau’s Data at Rate Hearing
California Workers’ Compensation Insurance Rating Bureau recommends an 11.3 percent decrease in the advisory pure premium rate, but gets taken to task about its data. Read all about it in this week’s issue of the Workers’ Comp Executive.
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Shelf Life of Minimum Reserve Rule Expired: New Bill Would Dump It
For more than a decade, duplicative laws have required insurance companies to over-reserve, but a new piece of legislation might give carriers greater control over their pocketbooks. Is self-determination of reserves the best choice or an option begging for precarious business practices?
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Employers Direct Starts Benefits Brokerage
Employers Direct is diversifying into a related field to spread its risk and offer its current workers’ comp clients more services, the Workers’ Comp Executive has learned. Find out what’s in store at the company in this week’s issue.
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Employers Direct Finds Long-Term Partner in Allegany
You know about Allegany Corp.’s plans to purchase Employers Direct. Now learn what other options Jim Little & Co. had on the table and why they went with Allegany.
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SB 869 Wants the Willfully Uninsured Identified, Penalized
Willfully uninsured employers will run out of places to hide if a new program is implemented to match wage and employment data with policy coverage information. And the program won’t cost much, according to proponents. Read this week’s issue for details.
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Study: Fraud Begets Fraud While Honest Employers Struggle to Compete
The Commission on Health and Safety and Workers’ Compensation has released a study indicating that employers failed to report up to 23 percent of their payroll in California in a five-year period. Find out just how widespread the problem is in this week’s issue.
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Auditor: California State Bar Strategic Planning, Legal Assistance Program, Cost Collection Need Improvement
The California State Auditor has released a new study detailing the problems running rife at the State Bar of California. To get the details read the Workers’ Comp Executive.
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North Dakota Agency Officials’ Court Dates Moved
Initial court appearances are rescheduled for officials with North Dakota Workforce Safety and Insurance, the state’s workers’ compensation agency. The executive director and the agency’s top fraud investigator face felony conspiracy charges. By AP via KXnet.com (Bismarck – Mandan, N.D.)
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Former BWC Investment Chief Gets a Nickel
Former Ohio Bureau of Workers’ Compensation chief financial officer Terrence Gasper receives a prison sentence of five years and four months for steering millions of dollars in bureau investment funds to brokers in exchange for use of a Florida Keys condominium, money, and dozens of other gifts. Gasper is the highest ranking official convicted in BWC-related corruption cases. By James Drew and Steve Eder, Toledo Blade [With Photo] Go to the Full Story…
Yukon WCB Asked to Withdraw Charges, Apologize
The Yukon Chamber of Mines wants the territory’s Workers’ Compensation, Health and Safety Board to withdraw charges against and apologize to a geological services firm for the Northern Canada and Alaska mineral, oil and gas exploration industry, in connection with the 2006 killing of an employee by a bear. The agency says no can do. CBC
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