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News Archive - Web Logs - Press Releases
Nov 20, 2003 - 11:15 AM
Workers' Comp Truth Will Come Out Under Oath
by Jamie Court and Doug Heller
Arnoldwatch has learned that insurance company executives will have to testify under oath in the state senate -- risking perjury -- about their companies' role in the workers' compensation crisis. In order to hear the truth firsthand, Arnold should attend these Senate hearings because the unusual step of conducting them under oath means executives will not be able to misrepresent the cause of skyrocketing premiums without consequences.
Legislators should ask the executives about the role of their investment losses, their claims histories, their pricing practices and recent insurer profit upturns associated with the skyrocketing rates. In Florida, the legislature swore malpractice insurance executives this year only to find that they had been deceiving the public about their profitability and that the causes of Florida's medical malpractice crisis were not what they had previously stated. To read about the revelations in Florida, go to www.consumerwatchdog.org/healthcare/nw/nw003858.php3.
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