Assessments On Minnesota Workers Comp Policies

Due to the down turn in investment income the Minnesota Workers Compensation Reinsurance Corporation will assess its member companies and policyholders a reported $268 million over the next five years! That's a pretty big hit. To learn about Minnesota workers compensation rules contact Workers Compensation Consultants.

It was just announced that the Minnesota State sponsored workers comp organization lost about 25% of their investments during this economic slow down creating a deficit of somewhere around $420 million that just has to be made up. The current plan would make collection of the assessments spread out over the next five years.

The assessment to members and policyholders will still have to go through the approval process with the Minnesota Commissioner of Labor and Industry along with approval from the Minnesota Commerce Commissioner. Hearings will start soon.