The Workers Compensation Commission plans to conduct a review of the private self-insured entities it oversees. Commission Chair Troy Wilson was authorized Thursday to sign a contract with a firm to perform the evaluations.
Executive Director Rick Farmer said there are 143 private self-insured companies under the commission's jurisdiction, as well as 40 government entities. Combined, they employ 254 people or approximately 16 percent of the state's workforce. The private firms have $198 million of letters of credit and bonds on file with the commission as collateral for their claims.
Farmer recommended and the commission approved hiring an outside contractor to examine the risk level of each of the private firms and to make recommendations to the commission for improving the system. Farmer said the contractor would provide a report on each company, as well as an overview of the entire system.
Farmer said he expected the first part of the review of the active private firms would take a couple of months once a contract is signed.
--------------------------------------------
KGOU produces journalism in the public interest, essential to an informed electorate. Help support informative, in-depth journalism with a donation online, or contact our Membership department.
