WCRA to Assess Insurance Companies and Employers
Yesterday, the Board of Directors of the Workers' Compensation Reinsurance Association, the state's mandatory workers' compensation reinsurer, voted to assess it's members $268 million to help reduce its $423 million year-end deficit. All insurers writing workers' compensation and self-insured employers will be assessed based upon their historic exposure. Minnesota employers will also pay a surcharge on their insurance premiums from 2010 to 2014 to help cover the deficit. The proposed assessment must be approved by the Commissioner of Labor and Industry before becoming effective.
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