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Article: State funds studied.(Workplace Safety)
- Article from:
- National Underwriter Property & Casualty-Risk & Benefits Management
- Article date:
- August 18, 2003
- Author:
CopyrightCOPYRIGHT 2003 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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.
Only competitive state funds--those that compete for business with private insurers--were studied. Exclusive state funds, which are ...