N.Y. Regulators Reviewing CRM and Drafting New Rules

The New York State Workers' Compensation Board (SWCB) is drafting new regulations to shore up security for group self-insured trusts and conducting a forensic review of the records of five trusts managed by Compensation Risk Managers that were slated for termination this year.Mary Beth Woods, director of licensing for the board, said Wednesday the agency has determined 2,753 employer members were involved in the termination of the trusts, all managed by CRM.The one remaining trust CRM handles in New York State, Elite Contractors Trust of New York, was identified as "underfunded" in an anal...