What possible difference could it make that this company “provides jobs” in the area? Either the state regulator is correct or is incorrect in its allegations of wrongdoing. The fact that the administrator is also an area employer has no bearing on the compliance issue(s) and should not be considered.
it gets harder and harder to believe any allegations coming out of NY State about insurance “fraud” or “abuse”.
For years, CRM marketed itself as a great alternative to NY State Fund groups. They always cited possible financial mismanagement within the State plans causing eroded surplus, and an inability on NY’s part to keep the rates at sustainable levels.
I guess fighting NYS (or any other State prosecutor, insurance commissioner etc) is like complaining about ridiculous taxes and NOT expecting the IRS to come knocking on your door. Of course they’re going to pay more attention to you, while letting their own problems grow.
CRM’s trusts, like all NYS trusts, are nothing but shell games. They are run by charlatans that prey on employers who don’t understand the long-tail nature of workers’ compensation.
Not so-a number of administrators have well run trusts. It’s a shame that a few bad actors ruin the industry’s image and try to reinvent themselves. Shirt-changers. Brokers need to discern between TPA’s like any other carrier and not gravitate to the cheapest.
I just came back from the video conference that was held between Buffalo, Albany and Brooklyn Workers Compensation Board locations. All the companies that were in these “Trusts ” are basically screwed.
Due to poor oversight by Workers Compensation of these trusts, companies like CRM are getting away
scott free and leaving 3,000 plus New York companies with a half a “BILLION “dollar bill. All of the member
companies that was fooled into these trusts are receiving bills of hundreds of thousands of dollars.
In some cases a million plus in bills. I asked the ” Forensic Auditor” how did this happen? He told us that
they were fooled because the “Trustees” accountant cooked the numbers to look like they were solvent.
I also asked if there is a criminal investigation of this fraud and he couldn’t comment at this time. But
he did add that Workers Compensation have an agreement with CRM not to ask for any discoveries at
this time. This way they can recover as much money as possible from CRM without them going bankrupt or
dragging it out for years in court where all the lawyer’s fees will eat what money is left. But in the mean time,
they want all the companies that were fooled into these trusts to pay up or have judgments against us.
Most of us companies can’t afford a sudden bill of hundreds of thousands of dollars. We are already hurting
really bad for so many reasons it would take too long to describe. But you kind people already know it’s hard to have a manufacturing company in the US these days and truly hard to run one in New York.
I told these people that this bill will put me under, I can’t possibly pay such a large amount. I lost over 400
thousand in last year’s economic mess and had to lay off half of my workers. I am still fighting to get my crew back and work back in my building. It breaks my heart because I see how my workers are struggling with reduced hours.
The New York politicians want to keep this quiet. Especially in an election year. They should be trying to create jobs
in New York. When New Yorkers find out they are “Cannibalizing” their own manufacturing base and putting good
honest companies in New York out of business to cover their misdeeds. They won’t get there sorry asses re-elected. They are trying to keep this hush-hush , so please spread the word. I’ve contacted many news outlets
and no one wants to cover this story. Amazing
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What possible difference could it make that this company “provides jobs” in the area? Either the state regulator is correct or is incorrect in its allegations of wrongdoing. The fact that the administrator is also an area employer has no bearing on the compliance issue(s) and should not be considered.
it gets harder and harder to believe any allegations coming out of NY State about insurance “fraud” or “abuse”.
For years, CRM marketed itself as a great alternative to NY State Fund groups. They always cited possible financial mismanagement within the State plans causing eroded surplus, and an inability on NY’s part to keep the rates at sustainable levels.
I guess fighting NYS (or any other State prosecutor, insurance commissioner etc) is like complaining about ridiculous taxes and NOT expecting the IRS to come knocking on your door. Of course they’re going to pay more attention to you, while letting their own problems grow.
CRM’s trusts, like all NYS trusts, are nothing but shell games. They are run by charlatans that prey on employers who don’t understand the long-tail nature of workers’ compensation.
CRM failed to mention the 30 plus employees they fired in February.
Not so-a number of administrators have well run trusts. It’s a shame that a few bad actors ruin the industry’s image and try to reinvent themselves. Shirt-changers. Brokers need to discern between TPA’s like any other carrier and not gravitate to the cheapest.
I just came back from the video conference that was held between Buffalo, Albany and Brooklyn Workers Compensation Board locations. All the companies that were in these “Trusts ” are basically screwed.
Due to poor oversight by Workers Compensation of these trusts, companies like CRM are getting away
scott free and leaving 3,000 plus New York companies with a half a “BILLION “dollar bill. All of the member
companies that was fooled into these trusts are receiving bills of hundreds of thousands of dollars.
In some cases a million plus in bills. I asked the ” Forensic Auditor” how did this happen? He told us that
they were fooled because the “Trustees” accountant cooked the numbers to look like they were solvent.
I also asked if there is a criminal investigation of this fraud and he couldn’t comment at this time. But
he did add that Workers Compensation have an agreement with CRM not to ask for any discoveries at
this time. This way they can recover as much money as possible from CRM without them going bankrupt or
dragging it out for years in court where all the lawyer’s fees will eat what money is left. But in the mean time,
they want all the companies that were fooled into these trusts to pay up or have judgments against us.
Most of us companies can’t afford a sudden bill of hundreds of thousands of dollars. We are already hurting
really bad for so many reasons it would take too long to describe. But you kind people already know it’s hard to have a manufacturing company in the US these days and truly hard to run one in New York.
I told these people that this bill will put me under, I can’t possibly pay such a large amount. I lost over 400
thousand in last year’s economic mess and had to lay off half of my workers. I am still fighting to get my crew back and work back in my building. It breaks my heart because I see how my workers are struggling with reduced hours.
The New York politicians want to keep this quiet. Especially in an election year. They should be trying to create jobs
in New York. When New Yorkers find out they are “Cannibalizing” their own manufacturing base and putting good
honest companies in New York out of business to cover their misdeeds. They won’t get there sorry asses re-elected. They are trying to keep this hush-hush , so please spread the word. I’ve contacted many news outlets
and no one wants to cover this story. Amazing