Maryland’s worker’s compensation insurance company to be privatized

Maryland Health insurance

Move comes to protect the insurer’s surplus funds Maryland’s Injured Workers Insurance Fund (IWIF), a worker’s compensation insurance carrier run by the state, is to become a private, non-profit company by October 2013. The move comes from legislation, called the IWIF Conversion Act, which was passed this week by lawmakers. Governor Martin O’Malley signed the bill into law, ensuring that the state’s worker’s compensation insurance system will undergo the changes outlined by the legislation. Legislators believe that the change will provide some stability to the state’s insurance industry and help…

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