Board Pushes Tab for Failed Trusts to More than $924 Million

By Michael Whiteley, Eastern Bureau ChiefThe New York State Workers' Compensation Board (SWCB) has pushed the estimate of total liabilities from the state's failed group self-insured trusts up to $924.6 million and announced it has filed a second lawsuit against a New York trust administrator.SWCB Chairman Robert Beloten reported to Gov. Andrew Cuomo and leaders of the state Assembly and Senate on June 30 that the state assumed control of two more trusts in March – bringing to 17 the number of trusts that have been surrendered to SWCB since New York's trust crisis began in 20...