TITLE: WORKERS’ COMP FUND RECEIVES A ‘Clean Bill of Health’

The Kentucky Office of Insurance has given the Kentucky Workers’ Compensation Fund a clean bill of health after completing an audit of the fund. KESA insures more than 5,100 groups and had 2004 premiums of about $67 million.

Greg Buie, KESA executive dir-ector said the fund is financially stable and is “pretty huge.” He described the audit as a “stamp of approval.” The audit is part of an ongoing effort by the Office of Insurance to check all self-insured, workers’ compensation funds in the state.

Of the seven self-insured workers’ compensation funds in Kentucky, the state currently is reviewing two funds in addition to completing the audits of KESA and the Kentucky Association of Counties’ fund. The remaining audits will be started soon and are expected to be completed by the third quarter of this year.