Forums | MacLife

Oklahoma has a provider of workers comp insurance that is a non-profit established by the state many years ago. While originally seeded with state money they have never received any more state subsidy and they provide "last resort" coverage for employers who are too small or are in dangerous lines of business that other insurers won't touch.
The Republicans who are in charge of the state legislature want to privatize it. This action will almost certainly cause an increase in rates and may make insurance impossible to get for small companies.
In other words your typical republican idiocy.

"CompSource is solvent and is serving businesses as well as government entities,” said Sterling Zearley, the association’s executive director. "This (privatization) is being driven by insurance lobbyists, many representing out-of-state corporations, who don’t want CompSource as a competitor.”

Sullivan and Sen. Cliff Aldridge, R-Midwest City, the other co-chairman of the task force, said Wednesday they have no problems with how CompSource has been operating.

"Government should not be involved in businesses that the private sector can do,” Aldridge said.

Fears of rate hikes
CompSource does not receive state appropriations but is considered a state agency. It provides workers’ compensation insurance to businesses that cannot or choose not to obtain the required insurance through private companies.

It provides workers’ compensation insurance to most state agencies and to various public entities, such as school boards, cities and counties.

CompSource writes about 35 percent of the workers’ compensation policies in the state. Other employers are self-insured or are insured by private companies.

Task force members Michael Clingman, the state finance director, and Mike Seney of The State Chamber said they remain concerned that small or new businesses may see their workers’ compensation rates eventually go up significantly if CompSource were sold.

http://newsok.com/workerss-comp-agency- … le/3410979