Outstanding Liabilities From Defaulted Self-Insurers Down to $30.5 Million

The New York State Workers' Compensation Board continues to whittle down the outstanding liability left by the insolvency of 20 self-insured groups almost a decade ago. In its latest report, the board notes that the liabilities, including outstanding claims and expenses, has dropped, from $924 million in 2011 to $30.5 million this month. That's down from $34 million six months ago. Almost all of the remaining liability is in the Empire State Transportation Workers' Compensation Trust, the report noted. The number of defaulted claims against all of the trusts has been reduced,...