NU Online News Service, Oct. 17, 12:13 p.m.EDT
California workers' compensation insurers, which have been hurtby increasing underwriting losses over the past three years, shouldbenefit from two bills signed into law recently, and fromseveral bills opposed by the industry that were not signed,according to Moody's.
In its Weekly Credit Outlook, Moody's says AB 378, one of thetwo bills signed, represents the “biggest positive effect forinsurers,” as it establishes a fee schedule for compound drugs. “Until now,”says Moody's, “the state's workers' compensation fee schedulesexcluded these drugs, whose usage and costs increased at a muchhigher rate than other pharmaceuticals…and essentially created abilling loophole.”
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