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Posted inMoney, Politics

Auditors: Workers’ comp officials overcharged insurers to rebuild fund

The state improperly charged Connecticut insurance companies and small businesses $450,000 last fiscal year to recoup a legislative raid on the Workers’ Compensation Administration Fund, the state auditors reported Monday.
But in a written response to the Auditors John C. Geragosian and Robert M. Ward, the commission insisted the assessment was necessary to ensure it had sufficient cash on hand to meet its obligations.