West Virginia Conference – More Thoughts
The West Virginia Conference article from 4/08/08 (continued.)
Outside of the Mandolidis decision, I thought that the insurance carriers were very positive about writing Workers Comp coverage in West Virginia. I was interviewed by the Charleston Daily Mail, which is the local newspaper for Charleston, WV. I commented in the interview that I wished that Insurance Commissioner Cline would have been able to make it, but I was informed that she was in China for the National Association of Insurance Commissioners (NAIC).
I wish to thank the West Virginians for their hospitality. I enjoyed working with quite a few of the employers and look forward to the open market that will exist post 7/1.
The NCCI has done a commendable job in setting rates. How could rates have been set without any prior data? The NCCI used seven similar states to come up with rates, which is about as good as it gets.
We shall soon see how the open market functions. Well, it is not quite an open market as Brickstreet, the monopolistic carrier that will be handling all the governmental employees’ Workers Comp for a few years into the future.
The Bottom Line – all this can only come out positive for the citizens and businesses of West Virginia.
Next Up – More Workers Comp Cost Cutting Techniques
©J&L Risk Management Inc Copyright Notice
