NY Workers' Compensation Alliance Rebuts Business Council in Albany Newspaper
In today's edition of the Albany Legislative Gazette, the NY Workers' Compensation Alliance countered the allegations of the Business Council of New York State. Click here to read our comments on pages 10 and 20. As reported in prior posts here, the Business Council continues to make misleading and inaccurate statements about workers' compensation costs in NY. Before you know it, the Business Council will blame Governor Pataki's burst appendix on workers' compensation costs!
However, the Business Council is strangely silent on one critical issue - workers' compensation insurance company profiteering in New York State. As is well known among all Albany insiders due to Attorney General Spitzer's investigation, insurance giant AIG cheated the New York State workers compensation system out of tens of millions of dollars over the past several years. This resulted in higher workers comp premiums for all honest employers in NY.
Workers' compensation insurance in New York is so lucrative that the Business Council runs it's own self-insured program under it's subsidiary, First Cardinal. Until the Business Council starts being honest about where a large portion of employer premiums really go (insurance company CEO pockets, etc.), their claims that struggling injured workers are bankrupting upstate business will fall on deaf ears.