Insurance Association Issues Statement on Illinois Workers’ Compensation Bill

SPRINGFIELD, Illinois, June 1 -- The American Insurance Association issued the following statement by Steve Schneider, vice president for state affairs of midwest region, following the passage of Illinois workers' compensation bill (S.B. 1737) that permits sensible corporate restructuring for insurers and reinsurers:

"We're quite disappointed that policymakers have chosen to mix poorly conceived government-driven rate controls with reasonable, sensible reforms.

"Illinois already has the most competitive marketplace for workers' compensation insurance in the nation - reversing course and putting the state in charge of setting rates for workers' compensation insurance does nothing to fix the true cost drivers of Illinois' workers' compensation system."