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N.Y. Trusts Show Little Change Since March
06/17/2008
underfunded compared to 22 classified with that standing in a report issued March 28. The "underfunded" status means that a trust's assets are less than 90 of liabilities.
The March 28 board spreadsheet also slated some of the trusts managed by Compensation Risk Managers CRM for termination throughout
Category: News
N.Y. Group-Trust Quagmire Driving Major Regulatory Shift
06/16/2008
The forced exit of Compensation Risk Managers CRM from the state's troubled group self-insured trust market this September has fueled intense daily negotiations between the state's top business labor and political leaders that could trigger a complete overhaul of the system.
It also could
Category: News
Correction
06/13/2008
The settlement reached between the New York State Workers' Compensation Board and Compensation Risk Managers called for CRM to turn over control of five trusts to the board by Sept. 8. On June 5 WorkCompCentral incorrectly reported the number of trusts to be turned over.
Category: News
Veteran N.Y. Work Comp Board Chair Became CRM Consultant
06/12/2008
Former New York State Workers' Compensation Board SWCB Chairman Robert R. Snashall served as a consultant to Compensation Risk Managers shortly after leaving the helm of the regulatory agency to advise the group self-insured trust manager on general regulatory matters CRM confirmed Wednesday
Category: News
Insured Workers' Bar Enters Group Self-Insured Trust Battle in N.Y.
06/11/2008
CRM that required CRM to surrender its third-party administrator license.
Under the agreement CRM will hand over the operation of six trusts in a series of actions beginning in July and ending on Sept. 8.
Both the board and the AFL-CIO have warned that unless Board Chairman Zachary Weiss prevails
Category: News
Business and Labor Negotiating Emergency Bill on Failed Trusts
06/09/2008
employees section of the New York AFL-CIO said negotiators will meet this week in response to a settlement between Compensation Risk Managers CRM and the State Workers' Compensation Board that revoked CRM's third-party administrator's license and requires CRM to surrender control of six trusts that it
Category: News
Failed Group Trust Liabilities at $146M and Counting
06/05/2008
A spokesman for the New York State Workers Compensation Board SWCB said Wednesday that total liabilities from the failure of three group-self insured trusts run by Compensation Risk Managers CRM were estimated at more than 146 million when the board seized control of the trusts in 2005 and
Category: News
Attorney Says CRM Settlement May Push More Debt onto Healthy Trusts
06/04/2008
The lead attorney for 13 group self-insured trusts that are refusing to pay emergency assessments to cover the debts of failed trusts is questioning a settlement between the New York State Workers' Compensation Board and Compensation Risk Managers CRM because it doesnt require CRM to cover the
Category: News
CRM Surrenders N.Y. TPA License in Failed Trust Probe
06/03/2008
trigger millions of dollars of emergency assessments to keep the system afloat.
The board said CRM has agreed to surrender its license effective Sept. 8 and in a separate matter pay 55000 to cover previous fines to the board. In a similar agreement CRM agreed to pay the New York State Insurance
Category: News
Trust Battle Grows to Include Union and Others
05/27/2008
trusts all managed by Compensation Risk Managers CRM of Poughkeepsie N.Y. and filed charges to revoke CRM's third-party administrator's license.
At least 11 trusts have been terminated since the beginning of 2006 and SWCB has taken over as manager of many of them. Rich Honen who represents the
Category: News
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