N.Y. Defines Group-Trust 'Insolvency'

The New York State Workers' Compensation Board (SWCB) quietly posted notice of an emergency rule Wednesday that defines insolvency for group self-insured trusts in response to a ruling by the Supreme Court that the board failed to prove any of the group self-insured trusts that have closed since 2006 are insolvent.In the regulatory posting, the board said it was responding to the July 7 ruling by New York Supreme Court Justice Kimberly O'Connor that eliminated $12 million in emergency assessments imposed on healthy trusts by SWCB Chairman Zachary Weiss in February.Weiss ordered a total...