Quiet Crisis Persists In WC
A year ago, in the May 12, 2003 edition of National Underwriter, I wrote a column headlined "Workers' Compensation: The P-C Industry's Quiet Crisis?" That workers' comp is still a deeply troubled line cannot be disputed. It remains a money loser for insurers, a costly aggravation for employers and, increasingly, a political hot potato for lawmakers in states across the country.
So a crisis it is but quiet it is not. Surreal might be a better description. A year ago, who could have imagined, for example, that Californians would recall a twice-elected sitting governor and replace him with an Austrian-born, former body builder-turned-actor, who made fixing the state's dysfunctional workers' comp system a key component of his election campaign?
Workers' comp suffers from several major problems, many of them repeat offenders from last year. Let's look at them one at a time:
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