Today’s issue of WorkCompRecap starts off a new month with the release of the Missouri State Auditor’s report on Missouri Employers Mutual. Among the chief conclusions in the audit was that the legislature should address whether MEM to continue under its tax-exempt status, and if so, whether additional restrictions regarding employee compensation and operating expenditures are needed. According to the auditor, due to the unique nature of the audit, no rating was given.
Also in the news today is the California Department of Insurance, who recently announced the commencement of an administrative enforcement action against Zurich American Insurance Company and Zurich American Insurance Company of Illinois, for using a type of workers’ comp agreement known as a “large deductible agreement” without obtaining the necessary review from the Department. Find out more by clicking here.