Carrier Windfall Reports Bring More SIF Scrutiny

More than $34 million in reimbursements made from South Carolina's Second Injury Fund (SIF) went to insurance carriers -- but not employers -- during the past two fiscal years because the deadline for calculating experience ratings on old accidents had expired, a prominent actuary told a state Senate committee Tuesday. Martin M. Simons, the state's former deputy insurance director and chief casualty actuary, told the Senate Workers' Compensation Study Committee he has concerns that insurers are reaping a "windfall" as employers miss out on refunds because of miscalculations in experience ra...