Editorial:
Progressive Government
Insurance, Workers' Comp Savings Coming
The
Savings
on insurance rates by
He told several hundred people attending a Rotary District
Conference at Pipestem that two insurance companies
have already filed their rate projections with the state and the savings for
policy holders with those two firms should be in the neighborhood of $35
million. When the other company's rates are filed, he predicted the number will
go over the $50 million he promised lawmakers in exchange for civil justice
reform during the regular 2005 session of the state legislature.
During the coming year, Manchin
said the reductions in homeowner and auto insurance fees and the announced
cutbacks in charges to businesses by the Workers Compensation division will
amount to hundreds of millions of dollars in the pockets of
That's good news considering we are paying more in workers'
comp fees and higher insurance costs than our neighboring states for the same -
or even less - benefits.
The
scheduled privatization of workers comp on the horizon in about two years also
is good news because businesses may shop for their insurers similar to what is
done in most other states.
While the reductions may initially be small on individual
insurance policy or business basis, it's a beginning. And, it's much better than
facing higher costs to insure one's home and/or car and to be forced to pay
growing workers' comp rates every year.
Gov. Manchin said when he asked
representatives of insurance companies to reduce rates in return for civil
justice reform he was told, "That's never been done." Obviously he was
able to convince them to do what they haven't tried.
It's a major step toward
It's time to start looking for them in our insurance bills
now - and in Workers' Comp statements in January.
What a difference a few months has made in