AIA Says Maryland’s IWIF Not Truly Privatized Under SB 745
Targeted News Service |
The
"SB 745, the IWIF restructuring bill, may represent a restructuring but it does represent a true privatization of the state-run insurer," said
While opposed to SB 745 due to the corresponding measure under BRFA seeking
"Under the bill, IWIF will remain exempt from the rate filing process and will not be subject to applicable rating laws which are requirements for private insurers," said Goldberg. "Moreover, the governor will continue to appoint IWIF's nine-member board rather than enabling it to become a truly independent body, and it will retain a statutorily dedicated market by remaining the market of last resort for workers' compensation. These are indicia of government control and retention of statutory preferences that are incompatible with a private entity," said Goldberg. "Furthermore, exemptions from the rating law and being awarded a guaranteed market give IWIF distinct advantages over the private market and therefore this is by no means an actual privatization of the state-run insurer," concluded Goldberg.
SB 745 provides for a study to be completed, by
It is expected that
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Wordcount: | 542 |
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