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.

A Washington Contractor and Workers Comp Fraud

Who says the State of Washington Workers Compensation Laws don't have teeth? Washington is a monopolistic state and manages a state fund which provides the only workers comp insurance for employers in the state. Click here to find out more about the Washington Monopolistic State Fund.

Recent news coming out of Spokane Washington tells us the story of a local painting contractor who paid his workers in cash, worked his way through work comp claim situations, operated as many as 10 work crews at a time while all along denying he had any employees. It appears this contractor had a track record of thumbing his nose at the Washington Department of Labor and Industry over several years. Well, a few years ago he was charged with 6 felony counts of intentional false reporting and in today's news we find where the judge in this case has accepted a negotiated plea where he would repay $212,000 in back premiums and penalties and be on probation which includes 30 days of electronic home monitoring.

Ever since workers compensation laws were established there has been and will continue to be employers who don't want to step up to the plate and shoulder their responsibility to their workers by providing proper workers compensation insurance coverage all in the guise of saving a buck. Sure, workers comp rules and laws can be complicated and confusing and mistakes are made. There are plenty of professional folks out there who can help an employer do the right thing and if you're an employer and need help with workers compensation, just search the web for "workers compensation consultant" you sure to find a good firm who can help you with your problem. But when that line is crossed and an employer fraudulently places his workers in harm by not providing the coverage dictated by law, at least in most states, the resulting consequences are hard and deserved.

Thanks!