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Senate advances changes to workers’ compensation fund governance, prompting debate over liability and oversight
Summary
Senate Bill 3, which revises governance and liability rules for the state workers’ compensation fund and enables directors-and-officers insurance, drew extended debate over whether it reduces state liability and whether further study is needed; sponsors said audits and safeguards remain; the bill was placed on the third-reading calendar.
Senate Bill 3, a package of amendments altering the structure and liability rules of the state workers’ compensation fund, was debated extensively on the Senate floor, with sponsor Senator K. S. Cornaby saying the changes are intended to improve the fund’s viability and allow directors to obtain directors-and-officers (D&O) insurance.
“The bill then modifies the scope of liability for the directors of the fund to bring it in line with the national scope for directors of similar funds, which will enable them to obtain the proper levels of D and O insurance,” Cornaby said in summarizing the bill on the floor. He told senators the measure includes…
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