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(Salt Lake City-AP) -- Proposed legislation to fully privatize Utah's Workers Compensation Fund received a cool reception in a legislative committee meeting yesterday.
Legislators said they want assurance that the action would benefit taxpayers and policyholders.
Some said the most prudent option might be doing as Governor Mike Leavitt has suggested and leaving the fund as a nonprofit, tax-exempt insurer of last resort for Utah employers.
Workers Compensation Fund officials contend that maintaining the state ties jeopardizes the 30 (M)million dollars in business that it writes outside Utah through a for-profit subsidiary called Advantage.
At least 25 states have bans on state-owned or controlled insurers. Idaho has given W-C-F until November first to either cease writing policies or privatize.
(Copyright 2003 by The Associated Press. All Rights Reserved.)
