U.S. House Panel Questions Comp Profits in Defense Industry

A Congressional watchdog committee is ringing alarm bells over the profits earned by four major carriers that provide workers' compensation coverage for defense contractors in Iraq and Afghanistan.The Democratic staff of the U.S. House Committee on Oversight and Government Reform said profits among the nation's insurance carriers for coverage written on government defense contractors are in stark contrast to the slight losses traditionally experienced in the U.S. private workers' compensation market. The carriers earned net underwriting gains of $585 million between 2002 and 2007, ...