New York's highest court ruled Tuesday against a coalition of 20 insurance carriers that argued the closure of New York’s Fund for Reopened Cases was unconstitutional because it subjected them to between $1.1 billion and $1.6 billion in retroactive liabilities.
As employer assessments skyrocketed, lawmakers in 2013 amended Workers’ Compensation Law § 25-a to close the 84-year-old Fund for Reopened Cases to new claims, effective Jan. 1, 2014.
All seven judges on the Court of Appeals agreed that “any retroactive impact of the legislation is justified by a rational Le...
Comments