Gov. Signs Bill to Privatize Workers' Compensation Fund

Utah Gov. Gary Herbert signed into law a bill that allows the state-chartered Workers’ Compensation Fund to convert into a mutual corporation. Senate Bill 92, by Sen. Curtis Bramble, R-Provo, requires WCF to file amended articles of incorporation with the Department of Insurance by the end of the year. The fund will retain all current assets and liabilities, and will continue to serve the residual market during a transition period. The insurance commissioner will have to execute a new contract to serve the residual market by Dec. 31, 2020, and will be required to solicit bids ...