Quote of the day
"Adding insult to California's workers' injuries, payouts for major injuries such as losing a limb or an eye on the job are far below the national average. States such as Arkansas and Mississippi, not known for their high costs of living, actually pay higher benefits for such injuries...."
Editorial, North County Times
Editorial: Reforms Deserve Another Look
While California’s workers’ compensation reforms have led to somewhat lower costs for many businesses, it’s time to examine whether the reforms unfairly punish injured workers and whether more can be done for employers. Workers’ comp is still costing California’s employers more than out-of-state competitors and paying injured workers less than elsewhere. North County Times/The Californian
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Empire State Draft Regs Drastically Cut Claim Resolution Time
In New York, where it sometimes takes more than 200 days to resolve a disputed workers’ compensation claim, Insurance Superintendent Eric Dinallo unveils draft regulations that would cut that period to 30 days. Insurers would have to submit “fact-specific” arguments detailing their reasons for disputing claims, and claimants would have to expedite submissions of prima facie medical evidence reports. By Roberto Ceniceros, Business Insurance
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Budget Agreement Reached in Palmetto State
After a legislative logjam led South Carolina House conferees to boycott budget negotiations, citing other committees’ lack of progress on workers’ compensation and transportation department reform, it appears lawmakers have reached agreement. By John O’Connor, the State (Columbia, S.C.)
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Committee Puts Missouri’s Second Injury Fund Under Microscope
Critics say Missouri’s small business owners and employees are losing out because Missouri’s Second Injury Fund, which a state audit recently found is going bankrupt, is being misused. A Republican-led Missouri House committee plans to meet this summer to discuss solutions. By John Hacker, Carthage Press [With Photo] Go to the Full Story…
Ohio BWC Problems Spur Reform Bill
Ohio Gov. Ted Strickland is expected this week to sign a bill that is the result of the hedge fund and rare coin investment scandals at the Ohio Bureau of Workers’ Compensation. Although the bill revamps the agency’s governance, it eliminates a requirement that the bureau’s investment policy be reviewed by a new legislative council. By Mark Niquette, Columbus Dispatch
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Rhode Island’s Beacon Taps New Vice President
Dominant Rhode Island workers’ compensation insurer Beacon Mutual Insurance Co. names industry veteran Robert G. DeOrsey, who has 22 year experience in underwriting and loss prevention, as vice president of underwriting and loss prevention. His predecessor was indicted in October on five felony counts of fraud and conspiracy for allegedly attempting to cover up improprieties at the company. Providence Business News
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Motley Fool’s CAPS Investor Community Gives CRM 5-Star Rating
Motley Fool discusses workers’ compensation insurer CRM Holdings as an investment opportunity. By Matt Koppenheffer, Motley Fool
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Connecticut Bill Targets Unscrupulous Contractors
In Connecticut, Republican-sponsored legislation that would allow penalizing contractors who misrepresent illegal immigrants as subcontractors in order to avoid paying workers’ compensation insurance premiums awaits Gov. M. Jodi Rell’s signature. By Dirk Perrefort, Danbury News-Times
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