The Workers’ Compensation Board of Indiana is increasing a component of the Second Injury Fund assessment that is intended to account for shortfalls in collections, according to a report released Monday.
The board said it is applying a 7% reconciliation factor for 2024. The factor has been 5% since it originated in 2019.
The board implemented the factor to address the fact that the SIF assessment is based on two-year-old financial and insurance data and at the time, the assessment was bringing in 5% to 7% less than anticipated.
According to the report, the 2023 assessment generat...
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