Board Finalizes Aid Rules for Inactive Self-Insurance Trusts

The New York State Workers' Compensation Board has finalized new rules that will provide temporary financial assistance to self-insured trusts that are inactive but not insolvent. The rules, published in final form last week, are part of the cleanup left from the 2008 Great Recession, when many self-insured groups ran into financial trouble and racked up an estimated $1 billion in unfunded liabilities. About 25 trusts were rendered insolvent, but some 27 groups simply went inactive and are still winding down, the board noted. The rules require the inactive trusts to purchase assumption o...