Quote of the day
"There are a lot of factors that go into calculating dividends, but among the most important are the improvements made in workplace safety. We've seen a lot progress and improvement at Utah businesses in recent years."
Lane Summerhays, Utah Workers' Compensation Fund chief executive, regarding a $21.5 million dividend to policyholders, the second-largest in fund history
State Fund to Host Restaurant Supervisor Safety Training
The California State Compensation Insurance Fund is holding a restaurant supervisor safety training course September 20 at its Sacramento district office. Workers’ Comp Executive
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Montebello City Council Wants Proof of Videotapers’ Coverage
The Montebello City Council agrees to negotiate a contract for videotaping council meetings, but some members have reservations about the lone applicant. Video company proprietor Philip Wilcox reportedly failed to turn in proof that he carries workers’ compensation insurance for two students who may work as camera operators. By Pam Wight, Whittier Daily News
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Louisiana Couple Cops to Comp Fraud
A Louisiana couple pleads guilty to lying about the husband’s medical condition after he fell from a roof in 2000. Although in 2003 he still was reporting that he could not lead a normal life due the pain, the Louisiana Workers’ Compensation Corp. conducted surveillance and reportedly found him doing activities that were inconsistent with his claimed injuries. By Emily Kern, WBRZ-TV/The Advocate (Baton Rouge)
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Second Highest Dividend in History of Utah WCF in the Works
Utah’s nonprofit Workers’ Compensation Fund, which covers more than 65 percent of the businesses operating in the state, is poised to distribute a $21.5 million dividend to its policyholders. The dividend is $1.5 million higher than last year’s and the second highest in fund history. By Steven Oderbeck, Salt Lake Tribune
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Ohio BWC Hires UBS Securities to Sell Holdings
As it revamps its portfolio toward publicly traded stocks and bonds in the continuing wake of its hedge fund investment debacle, the Ohio Bureau of Workers’ Compensation hires global investment firm UBS Securities to sell all private-equity holdings for the agency. The bureau is moving away from private-equity investments because they require it to work with dozens of outside managers. By Paul Wilson and Mark Niquette, Columbus Dispatch
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South Carolina Biz Groups Plan January Push for Comp Reform
Reforming workers’ compensation will once again likely be the highest priority of South Carolina’s business groups when the state Legislature convenes in January. Although workers’ comp reform had the backing of the governor and business leaders last session, they did not support the House bill, which died in the state Senate. By C. Grant Jackson, The State (Columbia, S.C.)
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Aetna Announces New Integrated Pharmacy Network
Aetna last week announced that it is launching a new integrated workers’ compensation pharmacy network intended to help improve patient safety and identify fraud as well as transparent pricing. Big-box retailer Costco reportedly is one of the first to join the program. UPI
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