Comp Liability 'Much Improved': ; Insurance Chief Says Debt Rapidly Declining, May Be Paid by 2016

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The $3 billion unfunded liability that was hanging over West Virginia's workers' compensation system 2 1/2 years ago is rapidly declining and is no longer a big problem, state Insurance Commissioner Jane Cline said.

The Legislature segregated the system's unfunded liability into an "Old Fund" in 2005, when Gov. Joe Manchin pushed through reforms that shifted workers' comp insurance from a state-run monopoly to a private company, BrickStreet Mutual Insurance Co.

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Comp Liability 'Much Improved': ; Insurance Chief Says Debt Rapidly Declining, May Be Paid by 2016

Cline spoke about the Old Fund on Wednesday at a conference for executives of companies that may offer workers' comp insura...

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