Your editorial on workers’ compensation blames workers for the
failings of an incompetent and greedy insurance industry. It makes
allegations that cannot be substantiated.
One of the reasons the cost of workers’ compensation has risen
so much is that rates of 1995 were so low because of deregulation.
With premium rates so low, many insurance companies went out of
business. The increase in premiums over the last three years is
nothing more than the insurance companies attempt to recoup their
loses.
Your editorial on workers’ compensation blames workers for the failings of an incompetent and greedy insurance industry. It makes allegations that cannot be substantiated.
One of the reasons the cost of workers’ compensation has risen so much is that rates of 1995 were so low because of deregulation. With premium rates so low, many insurance companies went out of business. The increase in premiums over the last three years is nothing more than the insurance companies attempt to recoup their loses.
The Zenith Insurance Company reported profits of over 200 percent this past year. Other insurance companies have released similar data. That is where the problem is. Employers are getting ripped off, but not by workers, but by their insurance companies.
If you should write letters anywhere, you should be complaining about insurance company’s greed.
Don’t blame workers for getting hurt and then expecting to be compensated for their injuries. Blame insurance companies for their greed and incompetence that has led to this crisis.
Gilbert Stein,
Aptos
