Monday, April 26, 2010

How the Workers' Compensation Board's shortsightedness hurts us all.

http://www.workerscompinsider.com/2010/04/justice-for-new.html
This is a great article from Workers' Comp Insider detailing the process that led First Cardinal Insurance to move it's operation out of New York and lay off more than 50 workers.  The NYS WCB forced this move by upping the annual assessment of self insured groups operating in the black to ten times what they had previously been, effectively crushing them.
Recently, a NYS judge reviewed this decision and reversed it.  Unfortunately it was too late to stop the damage.  We'll see how this situation continues to develop, as the WCB has decided to appeal. 

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