May 30, 2018 / 12:07 AM / 6 months ago

SCOTUS could take up challenge to closure of N.Y. workers' comp fund

The U.S. Supreme Court on Thursday will consider whether to take up a constitutional challenge to New York’s closure of a workers’ compensation fund for older claims that Liberty Mutual Insurance Co and several subsidiaries say could cost them more than $1 billion.

The companies, which provide workers’ compensation insurance in New York, say that by shutting down the fund in 2013 the state improperly shifted the potential costs of older cases from employers to insurers, and unlawfully interfered with existing insurance contracts. The companies are represented by Seth Waxman of Wilmer Cutler Pickering Hale & Dorr.

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