State regulators this month gave group self-insurance trusts in New York their poorest financial report card in years, but a state official and the president of a self-insurance trade association said Friday the industry is more likely to rebound than to spiral out of control.
In a report issued Aug. 17, the New York Workers' Compensation Board classified 29 of the state's 57 group trusts as underfunded, a term for those with assets totaling less than 90% of liabilities. The board has added six trusts to its underfunded list since early June, and it has ordered two others to shut down in r...
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