Tough N.Y. Bill Set To Regulate Comp Self-Insureds

New York lawmakers were poised yesterday to move on legislation toughening penalties and regulation of employers’ self-insured workers’ compensation trusts, some of which have lately gone into default.

The legislation–which was worked out in talks involving business, labor, the governor’s office and both houses of the legislature–also provides a mechanism for the Workers’ Compensation Board to fill the financial hole left by the defaulting trusts.