Ex-Insurance Exec Warns LGC Raided Health Pool as Premiums Rose

By Michael Whiteley, Eastern Bureau ChiefA retired insurance executive who specialized in the takeover of troubled insurers testified on Monday that the New Hampshire Local Government Center (LGC) raided its health plan for $18.3 million to bail out its failing workers' compensation pool while health premiums were increasing.Michael A. Coutu, who served on the North Hampton, N.H., Select Board from 2008 to 2010, told a hearing officer appointed to investigate administrative charges filed against the risk management program that members of LGC's governing board breached their fiduciary ...