Gov. Fallin should veto CompSource 'privatization' bill

by The Oklahoman Editorial Board Published: May 9, 2013

Fallin should veto this bill. Lawmakers should start over again next year.

Reportedly, 38 other states have an assigned risk pool for workers' comp residual coverage (policies for those who can't otherwise obtain coverage). In that system, all carriers essentially take turns writing residual coverage to equitably share risk. There's no reason CompSource can't be truly privatized and placed under the same rules as all competitors.

Should HB 2201 be signed into law, CompSource's special advantages will continue to impede the free market. Yet legislators are unlikely to revisit the issue without a catastrophe, such as a CompSource failure threatening countless policyholders.

Instead of risking disaster, here's an alternative: Start over. True CompSource privatization is needed. HB 2201 is not.

by The Oklahoman Editorial Board
The Oklahoman Editorial Board consists of Gary Pierson, President and CEO of The Oklahoma Publishing Company; Christopher P. Reen, president and publisher of The Oklahoman; Kelly Dyer Fry, editor and vice president of news; Christy Gaylord...
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