N.Y. Regulators Shutting Down Five More CRM Trusts

The New York State Workers' Compensation Board (SWCB) has ordered the termination of five group self-insured workers' compensation trusts administered by Compensation Risk Management (CRM) since the beginning of the year and warned that 22 more trusts operating in the state are underfunded.In a spreadsheet updating the status of the trusts issued last Friday, SWCB reported that it terminated Real Estate Management Trust of New York, Trade Industry Workers' Compensation for Manufacturers, and Transportation Industry Workers' Compensation Trust on Jan. 31.The board is scheduled t...