NU Online News Service, March 30, 3:20 p.m. EDT
The New York State legislature appears to be on the verge of passing legislation to address the state's group self insured trust workers' compensation system, which has amassed about $800 million in unfunded liabilities, sources tell NU Online News Service.
According to Art Wilcox, a consultant on workers' comp issues for the New York State AFL-CIO, the bill is a compromise that will incentivize the group trusts to alleviate their liabilities through loss portfolio transfers.
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