NYSIF Warns of Group Trust Risks As Storm Gathers Around CRM

By Michael Whiteley, Eastern Bureau Chiefmike@workcompcentral.comThe New York State Insurance Fund (NYSIF) last week issued its second warning about the risks associated with the state's group self-insured trust system in the wake of state regulators' lawsuit against the parent of trust manager Compensation Risk Managers (CRM).NYSIF, the state-run insurer of last resort and a competitor of the trusts, repeated warnings it first issued in August that employers that join group trusts are jointly and severally liable for unpaid claims when trusts fail.NYSIF's warning follows an analys...