Comp Director Changes Policy on Settlements After Report, but Questions Remain

The New Jersey workers' compensation community was abuzz Friday, a day after the state's comptroller slammed a long-established settlement practice that he said shifted millions in costs to an already-troubled pension fund. “I'm shocked to hear that they have taken issue with this, frankly,” said insurance attorney John Geaney. Claimants' lawyers said the report is long overdue and should correct an inappropriate policy that had siphoned money from the pension system — which is billions of dollars in the red — and benefited carriers. The same day ...