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AMERICAN GUARANTEE LIABILITY INSURANCE COMPANY V Form

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AMERICAN GUARANTEE LIABILITY INSURANCE COMPANY V Form

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number 96 American economy versus the state of New York Council thank you a Stephen Wu for the state of New York I'd like to reserve two minutes for rebuttal you may mr. mana one of the unique protections provided by workers compensation is the long term financial commitment that it requires insurance carriers to make to injured workers counsel how I'll do the employers benefit what what is this savings that they get as a result of the amendment and the closure of the fund there's an immediate cost savings in the form of getting rid of what has ballooned to be a 300 million dollar annual assessment against employers and that sort of the immediate cost savings at issue here and there's a longer-term cost savings from what are anticipated to be increased efficiencies from having insurance carriers retain these liabilities rather than transfer them to a third party which is first one offset by increased premiums to some extent in the short term it may be of

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