Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
News Article Details

Oklahoma Senate Votes to Privatize CompSource Agency

Source: AP

Back | A- | A+
 Email This     Print     Subscribe

Posted on 13 Mar 2013 by Neilson

Oklahoma Workers CompThe Oklahoma Senate has approved legislation to privatize the state's nonprofit workers' compensation agency.

The Senate passed the measure Tuesday by a vote of 36-11. It heads to the House, where a similar bill is pending.

The bill by Senate President Pro Tem Brian Bingman of Sapulpa would convert CompSource Oklahoma from a state entity to a private company owned by its policyholders. Supporters say a state agency should not by competing with private insurers.

State law requires employers to have insurance to compensate injured workers. CompSource was created by the Legislature in 1933 as an insurer of last resort. It has thousands of policyholders, including state, county and municipal government agencies, and it writes 35 percent of the workers' compensation policies in the state.


Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000