A company whose large-deductible workers' compensation insurance program is banned in several states is allowed to argue in Virginia federal court that signing up for the program involves signing a contract for reinsurance rather than a traditional insurance contract, a federal appellate judge has decided. Applied Underwriters has been hit with lawsuits from employers across the country over its EquityComp program. Employers argue that Applied Underwriters uses deceptive marketing, operating as an insurer but calling itself a reinsurer to avoid seeking state approval on its insurance prog...