AIG is not taking over the Washington state industrial insurance program.
I am disgusted by the trial lawyers’ scare tactics to defeat Initiative 1082. If it passes, the current state-run industrial insurance program will continue to operate, and employers are free to purchase this coverage from the state. The state will oversee and enforce regulations for the insurance companies providing this coverage.
If passed, employers will have the choice to place the coverage with one of the 20 to 30 different insurance companies offering coverage. They will enjoy a 25 to 30 percent premium decrease which they can pass on to their dedicated employees in the form of pay raises.
Kudos to columnist Bert Caldwell for “ratting out” the Department of Labor and Industries for refusing to release the disastrous September financial results. Their reason: It would confuse business owners to release numbers that would be thrown out if I-1082 passes.
Choices create a win-win situation for everyone except trial lawyers that have ravaged a system that is on the brink of insolvency.