State Funds Studied
Workers' compensation state funds have garnered an increased share of the market at the expense of private insurers, according to a study covering the years 1997 to 2001 released in late April by Conning Research & Consulting Inc. in New York.
Michael Weinstein, Conning's director of research, noted that the funds' share of the workers' comp market in states with competitive funds increased from 24 percent in 1997 to 32 percent in 2001. “The state funds wrote $7 billion out of the $31 billion in premiums in 2001,” he added.
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