An action filed against the New York Workers Compensation Board (WCB) by group self-insured trusts over an increase in assessments could be decided by the end of this month.
The increased assessment was levied in part to cover the shortfall in benefits payments caused by defaulting trusts administered by Compensation Risk Managers, LLC, according to Brian M Keegan, public information officer for the WCB. The trusts are captive insurers created to cover workers' comp claims for participants.
Richard E. Honen, an attorney with Phillips Lytle LLP, representing petitioners administered by First Cardinal, LLC, said that in New York State, every member of a self-insured trust, as well as self-insured employers, contribute to the operational costs of the WCB.
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