Less than Half of State's Self-Insured Group Trusts Still Standing

By Michael Whiteley, Eastern Bureau Chiefmike@workcompcentral.comOnly 29 self-insured group trusts are still operating in New York -- less than half as many as were operating when the industry was at its peak in 2006 -- and more than half of the trusts that are left have greater liabilities than assets, according to a report issued this month by the New York State Workers' Compensation Board.The SWCB said in a report released March 1 that only 14 of the 29 trusts still operating were considered fully funded – meaning their assets account for 100% of their liabilities. Another 15 are ...