Governor Rauner’s Budget Address Ignores Insurance Company Greed in Workers’ Comp Program

By February 20, 2017 November 21st, 2018 Medical and Legal Issues

Last week, Illinois Governor Bruce Rauner gave his annual budget address to the state. In the lengthy speech, Governor Rauner spent most of the time addressing the need for job creation in the state and the reasons for businesses leaving. Spending only one sentence of his entire address on workers’ compensation, Rauner stated that high workers’ comp insurance costs are causing higher property taxes and businesses to leave Illinois. What Rauner didn’t say should speak louder than the few words he actually expressed. There’s one type of business that’s flocking to do business in Illinois. Our state has the most workers’ comp insurers of any state in the country. 332 insurers, to be exact. Illinois a Favorable Environment for Insurers In Illinois, profits for workers’ comp insurers have been on the rise since 2010. Since 2011, however, the dollar amount they’ve paid out for claims has decreased while their premiums have…
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Source: Medical Malpractice and Personal Injury Blog