The New York Workers' Compensation Board has told two under-funded self-insurance trusts that insure plant employees and social workers to shut down, but no further closures are expected, a spokesman said yesterday.
In October, Mary Beth Woods, the board's director of licensing said that its 2001 tightened guidelines for reserving had put some 30 self-insurance trusts in the under-funded category, but only "a handful" were of real concern.
Board spokesman Jon Sullivan said yesterday that after ordering Manufacturing Industry WC Self-Insurance Trust and Provider Agency Trust for Human Services to close, "at this point we don't anticipate anything more."
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